Cyngn (NASDAQ: CYN), a developer of innovative autonomous
driving software solutions for industrial and commercial
enterprises, and Columbia Vehicle Group (“Columbia”), an electric
vehicle manufacturer serving industrial and commercial
environments, announced today that they have kicked-off production
of autonomous Columbia Stockchasers powered by Cyngn’s Enterprise
Autonomy Suite (“EAS”).
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Cyngn and Columbia Vehicle Group have
begun production of a fleet of autonomous Columbia Stockchasers
powered by Cyngn’s Enterprise Autonomy Suite. Source: Cyngn
This growing autonomous vehicle (“AV”) fleet will enable Cyngn
to make its self-driving solutions on Columbia vehicles available
to more customers. The new fleet will be equipped with the latest
technologies that coincide with integrating autonomous driving
capabilities into industrial vehicles, such as lithium-ion
batteries with upgraded chargers and electrified vehicle controls.
Furthermore, Cyngn and Columbia are jointly developing intellectual
property and making end-of-line adjustments to streamline the AV
build process.
In the fall of 2021, Columbia and Cyngn embarked on a
partnership that would, among other things, enable select customers
to become early adopters of autonomous industrial vehicles.
Existing Columbia Stockchasers would be the first vehicles fit with
Cyngn’s AV software, with plans to bring AV capabilities to
additional vehicles in Columbia’s portfolio — through both retrofit
and manufacture.
Lior Tal, Chairman and CEO of Cyngn, stated, “We are pleased to
announce this next milestone in the adoption of autonomous
industrial vehicles, which comes on the heels of our recent
deployment at the Las Vegas warehouse of Global Logistics and
Fulfillment (‘GLF’) with whom we are thrilled to be working as
their exclusive autonomous vehicle technology partner. GLF plans to
expand self-driving capabilities to multiple US-based facilities,
and with the development of this new fleet of Cyngn-powered
Columbia Stockchasers, we look forward to helping other
organizations take advantage of the benefits of autonomous
vehicles.”
“Customers have been looking for ways to automate their
workflows for years, and we believe that the time is right to bring
self-driving capabilities to Columbia vehicles,” said Greg
Breckley, Columbia’s Director of Business Development. “By
launching production of our first fleet, we’re bringing the full
range of Stockchaser’s well-known capabilities and pairing it with
autonomous driving technology for a new era of Built for Work
vehicles.”
“For us,” added Breckley, “the GLF announcement was a strong
indication that our customers are hungry for autonomous vehicle
technology. It is time to make this cutting-edge technology
available to many more organizations.”
“Our work with Columbia Vehicle Group and GLF has paved the way
for expanded deployment of our products in support of the increased
demand for autonomous vehicle solutions we are seeing in industrial
material handling,” added Cyngn Director of Product, Jordan Stern.
“Production of this new AV fleet marks a major step forward in
serving that demand. We look forward to tackling an even broader
range of use cases for Columbia’s existing customers as well as the
new customers we will be onboarding together.”
Cyngn’s Enterprise Autonomy Suite comprises a slate of products
that includes DriveMod: Cyngn’s AI-powered AV technology stack and
Cyngn Insight: software tools for data analytics, fleet management,
and operational insights. EAS is a comprehensive solution that
makes it easy to manage an autonomous vehicle fleet and give
operators the information they need to run their organizations more
efficiently.
Organizations that are interested in signing up for autonomous
vehicle deployments can do so by visiting
https://cyngn.com/columbia.
About Cyngn
Cyngn is an autonomous vehicle technology company that is
focused on addressing industrial uses for autonomous vehicles.
Cyngn believes that technological innovation is needed to enable
the adoption of autonomous industrial vehicles that will address
the substantial industry challenges that exist today. These
challenges include labor shortages, lagging technological
advancements from incumbents, and high upfront investment
requirements. Cyngn addresses these challenges with its Enterprise
Autonomy Suite, which includes DriveMod (modular industrial vehicle
autonomous driving software), Cyngn Insight (customer-facing
software suite for monitoring/managing AV fleets and
aggregating/analyzing data), and Cyngn Evolve (internal toolkit
that enables Cyngn to leverage data from the field for artificial
intelligence, simulation, and modeling).
To learn more, please visit https://cyngn.com/.
About Columbia Vehicle Group
Columbia Vehicle Group is an electric vehicle manufacturer whose
history dates back to 1946. Based in Reedsburg, Wisconsin, Columbia
manufactures vehicles built for work in industrial and commercial
environments. Designed to enhance productivity, comfort and
utility, Columbia vehicles optimize operational performance in
transporting, carrying, and towing - all with zero emissions. To
see Columbia’s full lineup of vehicles, visit
www.columbiavehicles.com.
Columbia Vehicle Group is part of the Nordic Group of Companies,
a family-owned management and manufacturing business headquartered
in Baraboo, Wisconsin with operations extending throughout the
United States, Mexico, and Europe.
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. 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. Readers are cautioned that it is not possible to predict
or identify all the risks, uncertainties and other factors that may
affect future results.
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version on businesswire.com: https://www.businesswire.com/news/home/20220117005537/en/
Carolyne Sohn Vice President, The Equity Group
csohn@equityny.com (415) 568-2255
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