Watch Scaling Up: Cyngn Expands the Team in Q1 of 2023
Watch Driving Success: Cyngn's Commercial Progress in Q1 of 2023
Narrator: Cyngn uses AI, robotics, and data to enable industrial vehicles to drive autonomously. We had a great first quarter of 2023, tripling our revenue from Q4 of 2022 and completing our first commercial stock chaser deployment.
The engineering team’s been hard at work, applying our technology to forklifts and mining vehicles. The development of these capabilities have been supported by commercial agreements with global brands looking for us to help them deliver the next generation of autonomous vehicle capabilities.
The first engagement is with a building materials manufacturer that uses thousands of forklifts in their global operations. We aim to have a commercial forklift solution available in 2024.
The second engagement brings Cyngn’s next-gen autonomous vehicle technology to mining applications with a global, heavy industrial vehicle manufacturer.
EAS is built to operate multiple vehicle types. This is key to Cyngn’s future success as we expand the EAS portfolio to cover industrial vehicle use cases.
One of our priorities for the rest of the year will be bringing these development projects to commercial readiness. We look forward to updating you further on project developments and new commercial releases, as they occur.