Cyngn Initiates Production Deployment with COATS, a Major North American Automotive Service Equipment Manufacturer
Cyngn Inc. (Nasdaq: CYN) has announced a production deployment with COATS Company, North America's largest wheel service equipment manufacturer. The deployment involves Cyngn's next-generation DriveMod Tugger at COATS' 150,000+ square foot facility in La Vergne, Tennessee.
The enhanced DriveMod Tugger features doubled towing capacity from 6,000 lbs to 12,000 lbs and will automate the delivery of wheel service components from production lines. This implementation aims to improve efficiency at COATS' facility.
This deployment follows Cyngn's earlier success with Rivian and demonstrates growing commercial momentum in the automotive sector, which was among the top adopters of industrial robotics in 2023.
Cyngn Inc. (Nasdaq: CYN) ha annunciato un'implementazione produttiva con COATS Company, il più grande produttore di attrezzature per il servizio ruote in Nord America. L'implementazione coinvolge il DriveMod Tugger di nuova generazione di Cyngn presso l'impianto di COATS di oltre 150.000 piedi quadrati a La Vergne, Tennessee.
Il DriveMod Tugger potenziato presenta una capacità di traino raddoppiata, passando da 6.000 lbs a 12.000 lbs e automatizzerà la consegna dei componenti per il servizio ruote dalle linee di produzione. Questa implementazione mira a migliorare l'efficienza presso l'impianto di COATS.
Questa implementazione segue il successo precedente di Cyngn con Rivian e dimostra un crescente slancio commerciale nel settore automobilistico, che è stato tra i principali utilizzatori di robotica industriale nel 2023.
Cyngn Inc. (Nasdaq: CYN) ha anunciado un despliegue de producción con COATS Company, el mayor fabricante de equipos de servicio de ruedas en América del Norte. El despliegue involucra el DriveMod Tugger de nueva generación de Cyngn en las instalaciones de COATS de más de 150,000 pies cuadrados en La Vergne, Tennessee.
El DriveMod Tugger mejorado presenta una capacidad de remolque duplicada, de 6,000 lbs a 12,000 lbs, y automatizará la entrega de componentes de servicio de ruedas desde las líneas de producción. Esta implementación tiene como objetivo mejorar la eficiencia en la instalación de COATS.
Este despliegue sigue al éxito anterior de Cyngn con Rivian y demuestra un creciente impulso comercial en el sector automotriz, que fue uno de los principales adoptantes de la robótica industrial en 2023.
Cyngn Inc. (Nasdaq: CYN)이 북미 최대의 휠 서비스 장비 제조업체인 COATS Company와 생산 배치를 발표했습니다. 이 배치는 테네시주 라베른에 위치한 COATS의 150,000 제곱피트 이상의 시설에서 Cyngn의 차세대 DriveMod Tugger를 포함합니다.
향상된 DriveMod Tugger는 6,000 lbs에서 12,000 lbs로 견인 용량이 두 배로 증가했으며, 생산 라인에서 휠 서비스 부품의 배송을 자동화할 것입니다. 이번 구현은 COATS의 시설에서 효율성을 향상시키는 것을 목표로 하고 있습니다.
이번 배치는 Cyngn이 Rivian과의 이전 성공을 따른 것으로, 2023년 산업 로봇 채택의 주요 산업 중 하나였던 자동차 부문에서 상업적 발전이 이루어지고 있음을 보여줍니다.
Cyngn Inc. (Nasdaq: CYN) a annoncé un déploiement de production avec COATS Company, le plus grand fabricant d'équipements de service de roues en Amérique du Nord. Le déploiement concerne le DriveMod Tugger de nouvelle génération de Cyngn dans l'installation de COATS de plus de 150 000 pieds carrés à La Vergne, Tennessee.
Le DriveMod Tugger amélioré dispose d'une capacité de remorquage doublée, passant de 6 000 lbs à 12 000 lbs, et automatisera la livraison des composants de service de roues des lignes de production. Cette mise en œuvre vise à améliorer l'efficacité de l'installation de COATS.
Ce déploiement fait suite au succès précédent de Cyngn avec Rivian et démontre un élan commercial croissant dans le secteur automobile, qui était l'un des principaux adoptants de la robotique industrielle en 2023.
Cyngn Inc. (Nasdaq: CYN) hat einen Produktionsstart mit COATS Company, dem größten Hersteller von Radservicetechnik in Nordamerika, angekündigt. Der Start umfasst den DriveMod Tugger der nächsten Generation von Cyngn in der über 150.000 Quadratfuß großen Einrichtung von COATS in La Vergne, Tennessee.
Der verbesserte DriveMod Tugger bietet eine doppelte Zugkraft von 6.000 lbs auf 12.000 lbs und wird die Lieferung von Radserviceteilen von den Produktionslinien automatisieren. Diese Umsetzung zielt darauf ab, die Effizienz in der Einrichtung von COATS zu verbessern.
Dieser Einsatz folgt auf den früheren Erfolg von Cyngn mit Rivian und zeigt die wachsende kommerzielle Dynamik im Automobilsektor, der 2023 einer der Hauptnutzer von Industrierobotik war.
- Secured deployment with major manufacturer COATS Company
- DriveMod Tugger's towing capacity doubled to 12,000 lbs
- Expanding presence in automotive sector following Rivian deployment
- None.
Insights
The deployment of Cyngn's enhanced DriveMod Tugger at COATS' facility represents a strategic automation milestone in the automotive service equipment manufacturing sector. The doubling of towing capacity from 6,000 to 12,000 lbs is a significant technical advancement that directly addresses the heavy-duty requirements of wheel service component transportation.
The implementation at COATS' 150,000+ square foot facility will create measurable operational efficiencies in their production logistics. For context, automating material transport in facilities of this scale typically results in 15-25% reduction in material handling costs and up to 30% improvement in production throughput. The deployment's focus on managing heavier components and bulk orders suggests COATS is positioning for production scaling.
This partnership validates Cyngn's market positioning in the high-uptime heavy manufacturing segment, particularly significant given COATS' 70-year industry leadership. The automotive sector's position as a top adopter of industrial robotics in 2023 indicates strong market timing for Cyngn's technology integration.
This production deployment carries substantial commercial implications for Cyngn's market position and revenue potential. The partnership with COATS, North America's largest wheel service equipment manufacturer, provides strategic validation of Cyngn's technology and opens doors to the broader automotive manufacturing sector.
Following the earlier Rivian deployment, this second major automotive sector implementation establishes a clear market penetration pattern. For a company with a
The focus on high-uptime manufacturing environments indicates a well-defined target market strategy. Success in this deployment could catalyze additional contracts within the automotive manufacturing ecosystem, potentially driving significant revenue growth and market value appreciation.
This deployment will leverage Cyngn's previously announced next-generation DriveMod Tugger, which features an increased towing capacity from 6,000 lbs to 12,000 lbs. By automating the delivery of wheel service components from its production lines, COATS will be able to enhance efficiency and further its innovation goals at the facility.
Steve Bergmeyer, Continuous Improvement and Quality Manager at COATS, said "Cyngn's self-driving tugger was the perfect solution to support our strategy of advancing automation and incorporating scalable technology seamlessly into our operations. With its high load capacity, we can concentrate on increasing our ability to manage heavier components and bulk orders, driving greater efficiency, reducing costs, and accelerating delivery timelines."
"We're excited to be working with a major North American automotive service equipment manufacturer that's trusted by wheels service professionals worldwide," said Lior Tal, Chief Executive Officer at Cyngn. "This win highlights the growing commercial momentum behind our autonomous DriveMod products. We're continuing to find a perfect fit with companies that do high-uptime heavy manufacturing, especially in the automotive sector where maximizing production efficiency is crucial."
The automotive sector was one of the top adopters of industrial robotics in 2023, demonstrating the escalating need for advanced autonomous solutions. Cyngn's ongoing progress with leading automotive manufacturers, including its initial DriveMod Tugger deployment with Rivian earlier this year, reflects the company's unwavering dedication to leveraging AI to drive innovation and unlock new efficiencies to meet the demands of today's competitive manufacturing landscape.
About COATS
The COATS Company is a leading, global manufacturer and distributor of wheel service, alignment, inspection, lift, and shop productivity equipment. COATS engineers, manufactures, and builds equipment, accessories, and consumables for the automotive market. All our products are made with quality, durability, and usability in mind. We have a dedicated team of top-notch direct technicians across
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
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
FAQ
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