Cyngn Inc. (CYN) stock experienced an increase of 2.29% in the aftermarket because the company announced that they will begin building a fleet of autonomous Industrial Vehicles. However, the last trading session closed at $3.5 with an increase of 8.02%.
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Autonomous Industrial Vehicles – Newest Updates
On 18th January 2022, CYN revealed that the manufacture of autonomous Columbia Stockchasers using Cyngn’s Enterprise Autonomy Suite had begun. The creation of an automated Columbia Stockchaser fleet powered by Cyngn’s Enterprise Autonomy Suite has commenced. Moreover, CYN will be able to provide its self-driving solutions on Columbia cars to a larger number of clients.
Furthermore, the new fleet will be outfitted with the most cutting-edge technology, such as lithium-ion batteries with enhanced chargers and electric vehicle controls, that are necessary for integrating autonomous driving capabilities into industrial vehicles. In addition, Cyngn and Columbia are working together to produce intellectual property and make end-of-line changes to expedite the AV construction process.
Now what?
CYN is excited to share this latest step in the adoption of autonomous industrial vehicles, which follows the previous installation at Global Logistics and Fulfillment’s Las Vegas warehouse, where the company is proud to be their only autonomous vehicle technology partner.
In addition, GLF has ambitions to expand self-driving capacities to a number of US-based institutions, and with the construction of this new fleet of Cyngn-powered Columbia Stockchasers, the executives look forward to assisting additional businesses in taking advantage of autonomous vehicle benefits.
Autonomous Vehicle Capabilities to Fulfillment Centers
CYN announced on 10th January 2022 that the Company has been selected as the sole autonomous vehicle solutions supplier by Global Logistics and Fulfillment LLC. In operation at GLF’s fulfillment center in Las Vegas, Cyngn’s AV technology integrates into Columbia’s Stockchaser.
Moreover, GLF will be able to use Cyngn’s Enterprise Autonomy Suite to streamline processes, let team members stay focused on mission-critical duties, and get unparalleled visibility into its core business by selecting Cyngn as its sole AV solutions supplier. Lastly, GLF has discovered possibilities for autonomous cars across its expanding footprint, which includes new locations in Nevada and California.
What’s New?
This deployment at GLF’s distribution center confirms the product/market match. This is also a significant milestone in the collaboration with Columbia Vehicle Group. Not only this but CYN is excited to continue working closely with the GLF team on future deployments and to remain their AV solutions provider as they grow their company. The company will be delivering the autonomous vehicle capabilities to additional businesses in the coming months, as they continue to create collaborations like this.
