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PARK, Calif., Jan. 25,
2024 /PRNewswire/ -- Cyngn Inc. (the "Company" or
"Cyngn") (Nasdaq: CYN) today announced a strategic shift to
Nvidia AI computers that will revolutionize the technology
powering its fleet of DriveMod autonomous industrial vehicles.
Following the path Tesla took with its Autopilot hardware, the
company is embarking on an innovative initiative to transition from
Intel microprocessors to Nvidia AI computers. This
transformation will encompass the entire DriveMod lineup, including
the DriveMod Tugger, the DriveMod Stockchaser, and the DriveMod
Forklift.
The decision to adopt Nvidia AI computers is driven by Cyngn's
commitment to enhancing both the efficiency and capability of its
vehicles while concurrently reducing production costs. The
unparalleled processing power and advanced development ecosystem
offered by Nvidia's computers align with Cyngn's vision for the
future of robotic autonomous platforms.
Commenting on the initiative, Cyngn's Chairman and Chief
Executive Officer, Lior Tal,
emphasized the forward-thinking nature of Nvidia's AI computers,
stating, "Nvidia's computers are the platforms of the future. By
integrating them into our vehicles, we will not only see a
reduction in power consumption but also a significant decrease in
cost as we reduce the number of components in our DriveMod system.
We are convinced that Nvidia's AI computers are the clear winner
when it comes to powering advanced robotics platforms like
DriveMod. This initiative is in line with our continuous investment
in R&D as evident from our rapidly growing patent
portfolio."
As Cyngn embraces this transformative journey, we believe the
integration of Nvidia computers into its DriveMod vehicles
signifies a bold step towards a future where innovation and
efficiency converge to redefine the landscape of robotic
technologies. The company remains dedicated to pushing boundaries
and delivering cutting-edge solutions that elevate the performance
and safety of its autonomous vehicles in the field.
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
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 17, 2023. 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.
Investor/Media Contact: Bill
Ong, bill@cyngn.com; 650-204-1551
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