Technology

Cyngn’s Next-Gen 12,000 lb. DriveMod Tugger Deploying With Customers, Including Commercial Contract With Major Automotive Equipment Manufacturer

Published

3 months ago

October 17, 2024

MENLO PARK, Calif., Oct. 17, 2024 /PRNewswire/ — Cyngn Inc. (the “Company” or “Cyngn”) (Nasdaq: CYN) today announced a commercial deployment of its next-generation DriveMod Tugger, featuring a recent upgrade to 12,000-pound towing capacity, with a customer that is a major manufacturer of automotive service equipment. Furthermore, next-gen DriveMod Tuggers have been used in several pilot deployments with automotive and defense customers in recent weeks, highlighting continued traction in focal sectors that have been previously emphasized by Cyngn. These deployments not only underscore the growing commercial interest in Cyngn’s AI-powered solutions but also highlight the Company’s ability to efficiently bring autonomous vehicles online at diverse customer facilities across manufacturing and logistics.

The production customer, a major manufacturer in the automotive service equipment space, is embarking on a multi-faceted strategy to adopt new industrial automation technologies. With evolving growth and production demands, they turned to Cyngn to help tackle challenges related to labor shortages, high operational costs, and increased safety requirements.

This announcement follows the recent achievement of the first next-generation 12,000 lb. DriveMod-enabled MT-160 Tugger being built at Motrec’s state-of-the-art facility. This state-of-the-art autonomous tugger is designed to improve operational efficiency, enhance safety, and provide valuable insights through Cyngn Insight—the simple software tools that enable customers to harness Cyngn’s AI-powered DriveMod autonomous vehicle technology.

“By deploying Cyngn solutions, we’re empowering our customers to handle their material transport needs efficiently, conveniently, and reliably,” said Cyngn’s Chief Executive Officer, Lior Tal. “Businesses are increasingly seeking technology that not only meets their immediate needs but also adapts to the future growth of their operations. Our next-gen DriveMod Tugger delivers on both fronts.”

The latest DriveMod Tugger model, featuring a motor controller upgrade from Motrec, doubles the towing capacity of its predecessor to deliver an even more robust solution that can address additional material handling applications of large-scale industrial operations. This advancement reflects the strong market demand for smarter but proven vehicle solutions and underscores the growing commercial momentum of Cyngn’s autonomous DriveMod technology.

This deployment builds upon the company’s recent announcement that its DriveMod Tuggers are now available for outdoor use cases.

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.comTwitter: http://twitter.com/cyngnLinkedIn: https://www.linkedin.com/company/cyngnYouTube: https://www.youtube.com/@cyngnhq

Investor Contact:
Don Alvarez
investors@cyngn.com

Media Contact:
Luke Renner
media@cyngn.com

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 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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SOURCE Cyngn

Technology

StorageUnits.com: 4 in 10 Americans Are Stockpiling Goods in Fear of Tariffs

Published

2 hours ago

January 15, 2025

Americans prepare for anticipated economic shifts under President-elect Donald Trump.

SEATTLE, Jan. 15, 2025 /PRNewswire-PRWeb/ — StorageUnits.com, a reliable and user-friendly platform for finding the best and most convenient storage facilities, recently published findings from a December 2024 survey examining Americans’ preparedness in response to anticipated economic shifts under President-elect Donald Trump. The survey of 1,750 U.S. residents highlights significant stockpiling activity and large purchases.

According to the survey, 28% of Americans are actively stockpiling goods, with another 17% planning to start soon. Household essentials (78%) and non-perishable foods (78%) rank as the most commonly stockpiled items, while 20% of respondents say they are stockpiling a year’s supply or more. Among active stockpilers, 15% have already spent over $1,000, and 7% are using rental storage units to manage their surplus goods.

Fear of tariffs is a key driver behind this behavior, with 9 in 10 respondents expressing concern about how Trump’s proposed tariffs will impact the cost of goods. The survey also reveals that 1 in 3 Americans have made or plan to make large purchases—such as electronics, appliances, and cars—before Trump takes office, citing his election as a significant influence on their decisions.

This survey, commissioned by StorageUnits.com and conducted online via Pollfish in December 2024, collected responses from 1,750 U.S. residents. To view the study write-up, please visit: https://www.storageunits.com/4-in-10-americans-are-stockpiling-goods-in-fear-of-tariffs/

StorageUnits.com is an emerging startup dedicated to helping consumers across the United States discover the best and most convenient storage options in their local communities. The website provides comprehensive resources and tools for traditional self-storage, full-service storage, and moving solutions. For more information, please visit http://www.storageunits.com.

Media Contact

Amanda Baker, StorageUnits.com, 000-0000, amanda@storageunits.com

View original content:https://www.prweb.com/releases/storageunitscom-4-in-10-americans-are-stockpiling-goods-in-fear-of-tariffs-302350222.html

SOURCE StorageUnits.com

Technology

InventHelp Inventors Develop New Solar Phone Charging Resort Table (LOS-249)

Published

2 hours ago

January 15, 2025

PITTSBURGH, Jan. 15, 2025 /PRNewswire/ — “We thought there should be a way to charge your phone or other mobile device while lounging at the pool,” said one of two inventors, from Newbury Park, Calif., “so we invented the SOLAR PHONE CHARGING RESORT TABLE. Our convenient and environmentally-friendly design eliminates the need to find a traditional outlet or power source for charging your phone.”

The patent-pending invention provides an improved poolside table for resorts, hotels, and cruise ships. In doing so, it allows users to charge their smartphones and other mobile devices. As a result, it increases convenience, and it could enhance the guest experience. The invention features a durable and waterproof design that is easy to use so it is ideal for hotels, resorts, cruise lines, etc.

The original design was submitted to the Los Angeles sales office of InventHelp. It is currently available for licensing or sale to manufacturers or marketers. For more information, write Dept. 23-LOS-249, InventHelp, 100 Beecham Drive, Suite 110, Pittsburgh, PA 15205-9801, or call (412) 288-1300 ext. 1368. Learn more about InventHelp’s Invention Submission Services at http://www.InventHelp.com.

View original content to download multimedia:https://www.prnewswire.com/news-releases/inventhelp-inventors-develop-new-solar-phone-charging-resort-table-los-249-302348150.html

SOURCE InventHelp

Technology

National Business Research Institute recognizes OHIO PETERBILT

Published

2 hours ago

January 15, 2025

OHIO PETERBILT earns a place in NBRI’s Circle of Excellence

PLANO, Texas, Jan. 15, 2025 /PRNewswire-PRWeb/ — The National Business Research Institute (NBRI) is pleased to welcome OHIO PETERBILT to the NBRI Circle of Excellence!

The NBRI Circle of Excellence Award recognizes organizations that demonstrate high levels of Customer Experience through rigorous, science-based customer research. Organizations must score at or above Stretch Performance at the 75th percentile of their industry or improve by five (5) or more percentiles over the previous year, which is no small feat.

OHIO PETERBILT is compared to or benchmarked against its industry, which is a subset of NBRI’s robust database of survey answers. OHIO PETERBILT is performing at the 71st percentile. NBRI commends the leadership of OHIO PETERBILT for their commitment to science-based Customer research and continuous improvement of its Customer Experience.

OHIO PETERBILT embraces the Best Practice of continually assessing and targeting the variables that drive Overall Satisfaction and Intent to Return. NBRI’s advanced statistical modelling of OHIO PETERBILT’s data, provides OHIO PETERBILT with the keen insight and actions necessary for the continuous improvement of Customer attitudes, behavior, and experience.

“Great business leaders understand how exceptional Customer experiences improve business performance. They take the time to listen to their Customers, identify and tackle important business issues, and create interactions that build customer loyalty,” says Steve Moylan, President at NBRI. “OHIO PETERBILT PETERBILT’s high achievement in earning this distinguished award is a direct result of OHIO PETERBILT PETERBILT’s dedication to measuring and improving its Customer Experience.”

About OHIO PETERBILT

OHIO PETERBILT, a division of Ohio Machinery Co., is a leading Peterbilt dealership with ten locations across the state. It serves the trucking industry with a commitment to quality service, sales, and support and provides a wide range of solutions for fleets and owner-operators, from conventional diesel trucks to the latest in electric vehicle technology.

About NBRI

NBRI conducts science-based Employee, Customer, and Market Research for businesses, and uses this data to help organizations leverage these human insights to make improvements to operations and strategy. With extensive experience across industries, NBRI’s research teams provide clients a combination of deep industry knowledge and expert advice. NBRI’s mission is to help its clients set new standards of Ohio Peterbilt in their industries. NBRI offers full-service business research and consulting ensuring NBRI clients focus on the most impactful issues to improve performance and unlock growth.

National Business Research Institute, Inc.

3300 Dallas Parkway; Suite 200

Plano, TX, 75093

972-612-5070

1-800-756-6168

www.nbrii.com

OHIO PETERBILT

900 Ken Mar Industrial Pkwy,

Broadview Heights, OH 44147

(440) 526-0520

ohiopeterbilt.com

Media Contact