Cyngn Reveals DriveMod Tugger: Fully Autonomous, Electric Tugger for Industrial Operations

MENLO PARK, Calif., October 24, 2023  –  Cyngn Inc. (the “Company” or “Cyngn”) (Nasdaq: CYN), a developer of AI-powered autonomous driving solutions for industrial applications, is excited to offer a sneak peek into its latest innovation: the integration of its DriveMod Kit with the MT-160 tow tractor from Motrec International Inc. Designed for industrial, commercial, and warehousing operations, this electric autonomous tugger is set to make its initial debut with select customers in fourth quarter 2023, and expand to a broader customer base in 2024.

This first look is part of a previously announced partnership to launch an industry-leading autonomous tugger, the "DriveMod Tugger,” which boasts a 54-inch turn radius and a robust 6,000-pound towing capacity.

The DriveMod Tugger harnesses the power of autonomous driving through a variant of Cyngn's DriveMod Kit. This kit streamlines the integration of autonomous vehicle (AV) components, drawing from the system architecture established with the DriveMod Stockchaser. Whether installed directly on the manufacturing line or retrofitted onto existing tuggers, the DriveMod Kit ensures an efficient deployment process, enabling customers to quickly benefit from Cyngn's cutting-edge autonomous technology.

Underpinning the DriveMod Tugger's exceptional performance is an AC Powertrain featuring a maintenance-free brushless electric motor. This design delivers precise motor control, enhanced maximum speeds, and improved torque at lower speeds. Furthermore, Cyngn is introducing an automatic unhitching feature, eliminating the need for human intervention when releasing towed carts. This innovation responds to insights from customers, addressing operational bottlenecks and inefficiencies associated with manual cargo handling that results in decreased throughput and labor inefficiencies.

Lior Tal, chief executive officer of Cyngn, emphasized the significance of this milestone, saying, "Our partnership with Motrec signifies a pivotal moment in our journey to revolutionize industrial automation. We are collaborating with industry leaders such as Ouster and Nvidia to enhance user experiences and infuse industrial operations with valuable data. Our sustainable autonomous solutions aim to improve goods transportation cost-effectively and safely. This partnership with Motrec builds upon the trusted reputation of both companies while incorporating Cyngn's state-of-the-art autonomous vehicle technology."

“Motrec has always focused on innovation without losing sight of the customer’s primary concerns: long-term reliability, no-fuss maintenance, and safe and easy operation. We are very proud of the autonomous journey we’re embarking on with Cyngn and look forward to making these self-driving vehicles available to our customers,” said Benoit Gagner, Director of Technical Services at Motrec.

About Cyngn

Cyngn develops and deploys scalable, differentiated autonomous vehicle technology for industrial organizations. Cyngn’s self-driving solutions allow existing workforces to increase productivity and efficiency. The Company addresses significant challenges facing industrial organizations today, such as labor shortages, costly safety incidents, and increased consumer demand for eCommerce.

Cyngn’s DriveMod Kit can be installed on new industrial vehicles at end of line or via retrofit, empowering customers to seamlessly adopt self-driving technology into their operations without high upfront costs or the need to completely replace existing vehicle investments.

Cyngn’s flagship product, its Enterprise Autonomy Suite, includes DriveMod (autonomous vehicle system), Cyngn Insight (customer-facing suite of AV fleet management, teleoperation, and analytics tools), and Cyngn Evolve (internal toolkit that enables Cyngn to leverage data from the field for artificial intelligence, simulation, and modeling).

Find Cyngn on:

• Website: https://cyngn.com
• Twitter: http://twitter.com/cyngn
• LinkedIn: https://www.linkedin.com/company/cyngn
• YouTube: https://www.youtube.com/@cyngnhq

Cyngn Investor Contact:

Bill Ong

Cyngn Inc. 

bill@cyngn.com

650-204-1551

Forward-Looking Statements

This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. Any statement that is not historical in nature is a forward-looking statement and may be identified by the use of words and phrases such as "expects," "anticipates," "believes," "will," "will likely result," "will continue," "plans to," "potential," "promising," and similar expressions. These statements are based on management's current expectations and beliefs and are subject to a number of risks, uncertainties and assumptions that could cause actual results to differ materially from those described in the forward-looking statements, including the risk factors described from time to time in the Company’s reports to the SEC, including, without limitation the risk factors discussed in the Company’s annual report on Form 10-K filed with the SEC on March 17, 2023. Readers are cautioned that it is not possible to predict or identify all the risks, uncertainties and other factors that may affect future results No forward-looking statement can be guaranteed, and actual results may differ materially from those projected. Cyngn undertakes no obligation to publicly update any forward-looking statement, whether as a result of new information, future events, or otherwise.