Cyngn to Showcase DriveMod-Enabled Autonomous Stockchaser to Prospective Customers at the ARA Show in Orlando, Florida

Rhea-AI Summary

Cyngn, Inc. (NASDAQ: CYN) announced its participation in The ARA Show, the largest equipment rental tradeshow, held from February 13 to February 15, 2023, at the Orange County Convention Center in Orlando, Florida. The company will showcase its Enterprise Autonomy Suite and collaborate with Columbia Vehicle Group to display a DriveMod-enabled Columbia Stockchaser. Cyngn's solutions aim to enhance productivity and safety in industrial operations, addressing challenges like labor shortages. Their Robotics as a Service (RaaS) model offers flexible access to self-driving technology, reducing upfront costs for organizations seeking automation.

Positive

• Participation in The ARA Show enhances visibility in the equipment rental market.
• Collaboration with Columbia Vehicle Group strengthens offering of autonomous solutions.
• Enterprise Autonomy Suite allows retrofitting of existing stockchaser fleets, promoting cost efficiency.
• RaaS model provides flexible access to autonomous solutions, easing financial burden for clients.

Negative

• None.

MENLO PARK, Calif.--(BUSINESS WIRE)-- Cyngn, Inc. (the “Company” or “Cyngn”) (NASDAQ: CYN), a developer of innovative autonomous driving software solutions for industrial applications, today announced that the Company will be attending The ARA Show, the world’s largest equipment and event rental tradeshow at the Orange County Convention Center in Orlando, Florida, February 13th to February 15th, 2023.

Cyngn Stockchaser at ARA Show (Graphic: Business Wire)

Cyngn is excited to be joining its partner, Columbia Vehicle Group, at the event. Chris Wright, Cyngn’s Head of Sales, will be located at the Columbia booth #4074, showcasing a DriveMod-enabled Columbia Stockchaser. Together, Cyngn and Columbia provide autonomous solutions via new stockchasers and stockchasers that customers operate today, enabling organizations to flexibly adopt autonomous industrial vehicles.

The Company sees the ARA show as an opportunity to exhibit its Enterprise Autonomy Suite (EAS). EAS gives organizations the unique ability to deploy Cyngn’s safe and reliable automation solutions via retrofit of their existing stockchaser fleets or with new autonomous stockchaser purchases. In doing so, customers can seamlessly adopt self-driving technology with leading-edge sensors and artificial intelligence into their operations, addressing challenges such as labor shortages and safety.

“We are excited to join our partners at Columbia Vehicle Group to show visitors how a DriveMod-enabled Columbia Stockchaser can deliver greater productivity and safety through simple software interfaces that allow them to operate complex vehicles.” says Cyngn CEO, Lior Tal. “We built DriveMod to be able to work with existing vehicle fleets, which means even stockchasers you already operate today could be driving themselves tomorrow.”

Additionally, Cyngn’s Robotics as a Service (RaaS) offering allows organizations to access self-driving vehicle solutions via a subscription model that reduces high upfront costs. This model provides customers with the added flexibility to deploy autonomous industrial vehicles at the pace that aligns with their business needs.

Summary of The ARA Show:

“The ARA Show is American Rental Association’s annual trade show for the equipment and event rental industry. It provides attendees and exhibitors alike the perfect opportunity to learn, network and buy/sell. For the last 66 years it has continued to grow becoming the world’s largest equipment and event rental tradeshow.” To learn more about the ARA show, click here.

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).

About Columbia Vehicle Group

Columbia Vehicle Group, Inc. is an electric vehicle manufacturer based in Reedsburg, Wisconsin, whose history dates back to 1946. Columbia’s driving force is building healthful and constructive relationships that equip our partners for success. We manufacture vehicles built for work in industrial and commercial environments, and engineer solutions that enhance productivity, comfort, and utility. Columbia’s vehicles optimize performance in transporting, carrying, and towing - all with zero emissions. To see Columbia’s full vehicle lineup, visit www.columbiavehicles.com.

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

View source version on businesswire.com: https://www.businesswire.com/news/home/20230213005074/en/

Media Contact: Bill Ong, bill@cyngn.com

Investor Contact: Ben Mimmack, ben.mimmack@cyngn.com

Source: Cyngn, Inc.

FAQ

What is Cyngn's participation in The ARA Show?

Cyngn will showcase its autonomous driving technologies alongside Columbia Vehicle Group from February 13 to 15, 2023.

What products will Cyngn present at The ARA Show?

Cyngn will exhibit its Enterprise Autonomy Suite and a DriveMod-enabled Columbia Stockchaser.

How does Cyngn's RaaS model work?

The RaaS model allows organizations to access self-driving solutions via a subscription, reducing high upfront costs.

What challenges does Cyngn's technology address?

Cyngn's technology tackles labor shortages, safety incidents, and increasing eCommerce demand.