Share this story:

Cyngn ($CYN) Working to Transform Industrial Vehicles into AI-Powered Autonomous Robots



Green Stock News LLC

June 15, 2023 – TheNewswire - Cyngn Inc. (NASDAQ: CYN), a company specializing in autonomous driving software solutions for industrial applications, and BYD have announced significant progress in developing autonomous forklifts using their AI-powered DriveMod technology. 

 

The DriveMod-enabled forklift features flexible pallet detection, enhanced safety through AI algorithms, and an industry-leading load capacity of 10,000 lbs. With the global forklift market projected to reach $103.9 billion by 2031, Cyngn's autonomous forklifts offer a transformative solution to material handling challenges. The commercial launch is planned for 2024, with early access available through the waitlist.

 

Cyngn CEO, Lior Tal stated: “Adapting DriveMod to electric forklifts represents a significant milestone in the expansion of Cyngn's portfolio of DriveMod-enabled vehicles to the most universal material handling vehicle.”

 

Audrey Li, BYD’s VP of Operations added: “This development represents a significant step forward in our commitment to innovation and delivering advanced, next-generation solutions to our customers, who choose BYD because they want to ‘Work Smarter’.”

 

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.

 

Shares of Cyngn trade on the NASDAQ under the ticker symbol CYN. For more information visit www.greenstocknews.com 

 

Source: https://greenstocknews.com/newswire/cyngn-cyn-and-byd-release-footage-of-autonomous-forklift-and-ai-powered-drivemod-technology

 

Disclaimer

 

This content is not financial advice and is for information, education and entertainment purposes only. Green Stock News is not responsible for any losses related to the financial decisions made by you. Video content and other materials including web content are based on data obtained from sources we believe to be reliable but are not guaranteed as to accuracy and are not purported to be complete. As such, the information should not be construed as advice designed to meet the particular investment needs of any investor. Green Stock News is not responsible for any gains or losses that result from the opinions expressed in this video or materials that it publishes electronically.

 

View original video news clips here: https://greenstocknews.com/green-stock-newswire