PR Newswire
MENLO PARK, Calif., Oct. 25, 2024
MENLO PARK, Calif., Oct. 25, 2024 /PRNewswire/ -- Cyngn Inc. (Nasdaq: CYN) today announced the expansion of its dealer network to include Kennedy Robotics AI, a provider of innovative autonomous robotics solutions. Kennedy Robotics will begin selling Cyngn's autonomous DriveMod Tugger, which bundles Cyngn's AV technology with Motrec's MT-160 vehicle.
"We are excited to welcome Kennedy Robotics AI to our growing dealer network, bringing the DriveMod Tugger to even more businesses seeking reliable, safe, and innovative AV solutions," said Cyngn CEO, Lior Tal.
"Safety is fundamental to every product we build at Cyngn, which is reflected in the rigorously engineered design of our autonomous technology stack. As we tap into new markets with each partnership, we remain committed to upholding these high performance standards through capabilities like 360-degree perception, designed to safeguard employees and minimize the risk of costly incidents."
This announcement comes on the heels of two recent dealer network expansions: the addition of RobotLab, a robotics company with over 10,000 robots deployed, and Alta Equipment Group, which boasts more than $1 billion in annual sales. Looking ahead, Cyngn is dedicated to further growing its dealer network by bringing on additional distribution and integration partners.
"With our 35 years of expertise in textile manufacturing, industrial cutting and sewing, and automotive industries, we're excited to harness the tremendous opportunities presented by Cyngn's DriveMod solution in meeting the growing demand for advanced, safe robotic solutions," said Kevin Kennedy, Founder of Kennedy Robotics AI.
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
Investor Contact:
Don Alvarez
[email protected]
Media Contact:
Luke Renner
[email protected]
About Kennedy Robotics AI, LLC.
KENNEDY ROBOTICS AI, LLC was established in 2024 as our Autonomous Robotics Solutions division of KENNEDY SEWING and CUTTING SUPPLY, LLC. They are introducing and deploying Autonomous Robotic Solutions in Industry 4.0. Welcome to Industry 4.0, creating a harmonious collaboration between humans and robots. Through their close collaboration with their robotics partners and their strategic partner integrators, they are preparing you and your team for a bright and promising future in Industry 5.0.
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 Securities and Exchange Commission (SEC), including, without limitation the risk factors discussed in the Company's annual report on Form 10-K filed with the SEC on March 7, 2024. 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.
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