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Cyngn (NASDAQ: CYN) has launched the DriveMod Kit, a turnkey autonomous vehicle solution aimed at simplifying the integration of autonomous systems into industrial vehicles. Its inaugural production run began in early April 2022. The kit addresses high adoption barriers in AV technology, featuring complete hardware integration for retrofitting existing vehicles. In collaboration with Columbia Vehicle Group, DriveMod Kit is designed to adapt to various vehicles, potentially leading to increased productivity and reduced operational costs across industrial sectors.
Positive
Launch of DriveMod Kit, providing a comprehensive AV solution.
Inaugural production run began in April 2022, indicating rapid development.
Partnership with Columbia Vehicle Group enhances market reach.
Potential to streamline retrofitting for existing vehicles, improving adoption rates.
Addresses significant market need with 883,000 new material-handling vehicles sold annually in the U.S.
Negative
None.
MENLO PARK, Calif.--(BUSINESS WIRE)--
Cyngn (or the “Company”) (NASDAQ: CYN), a developer of innovative autonomous driving software solutions for industrial and commercial enterprises, today announced the official launch of DriveMod Kit, a turnkey autonomous vehicle (“AV”) solution for which Cyngn filed a patent in February 2022. DriveMod Kit’s inaugural manufacturing run started coming off the assembly line in the first half of April 2022.
Cyngn launches DriveMod Kit, a turnkey AV hardware integration module. Its inaugural manufacturing run began coming off the assembly line in early April 2022. Source: Cyngn
Containing all the advanced sensors and hardware components needed for AV technology integration, DriveMod Kit is designed to streamline retrofitting of existing industrial vehicles or simplify integration onto newly manufactured vehicles. We believe that by eliminating traditional barriers to autonomous vehicle adoption, such as high costs and complex installations, DriveMod Kit will facilitate rapid adoption of autonomous vehicles across a wide range of industrial and commercial domains.
Partnering with Columbia Vehicle Group (“Columbia”), Cyngn originally developed DriveMod Kit as an efficient AV integration package for Columbia’s Stockchaser vehicles. The kit technology can easily be adapted to fit other industrial vehicles.
“We are excited to have launched production of DriveMod Kit for Columbia’s Stockchaser. With 883,000 new material-handling vehicles sold each year in the U.S., DriveMod Kit creates a sizable opportunity for Cyngn to lead the rapid adoption of turnkey AV solutions for both retrofit and new vehicles. Installation can be done quickly and does not require special training. Anyone who works on these vehicles can retrofit an existing Columbia Stockchaser into a fully autonomous vehicle with very little effort. DriveMod Kit is a complete AV integration solution, a game-changer that eliminates traditional barriers to autonomous vehicle adoption,” said Lior Tal, Cyngn’s CEO.
In addition to the self-driving vehicle technology, DriveMod Kit features human machine interfaces and a lighting system that communicate vehicle status, mode, battery status, route obstruction, and more.
With the swift and simple deployment that DriveMod Kit offers, manufacturers and logistics companies can begin to reap the many benefits of autonomy, such as increased productivity, improved safety, and lowered operational costs.
To see DriveMod Kit in action, please click here to watch the video.
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 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).
Carolyne Sohn Vice President, The Equity Group
csohn@equityny.com
(415) 568-2255
Source: Cyngn
FAQ
What is the DriveMod Kit launched by Cyngn?
The DriveMod Kit is a turnkey autonomous vehicle solution designed to simplify the integration of autonomous technology into industrial vehicles.
When did Cyngn begin production of the DriveMod Kit?
Production of the DriveMod Kit began in early April 2022.
Who partnered with Cyngn for the DriveMod Kit?
Cyngn partnered with Columbia Vehicle Group to develop the DriveMod Kit.
What are the benefits of the DriveMod Kit for industrial vehicles?
The DriveMod Kit aims to enhance productivity, improve safety, and reduce operational costs by facilitating the adoption of autonomous technology.
How does the DriveMod Kit affect autonomous vehicle adoption?
The DriveMod Kit eliminates traditional barriers such as high costs and complex installations, promoting faster adoption of autonomous vehicles across industries.
