Back to Press Releases

Cyngn Continues Momentum in Automotive Sector with Several DriveMod Tugger Deployments at Major Automotive Brands

Cyngn has continued making notable inroads with the automotive manufacturing sector.

Cyngn |

MENLO PARK, Calif., January 23, 2025 – Cyngn Inc. (Nasdaq: CYN) today announced that it has continued making notable inroads with the automotive manufacturing sector. To date, the company has conducted DriveMod Tugger deployments at varying stages of maturity with no less than five major automotive Original Equipment Manufacturers (OEMs) or Tier-1 Suppliers.

This traction has led to deployments across the United States and into Mexico, underscoring Cyngn’s ability to provide scalable, cross-functional automation in diverse environments.

The announcement today builds upon announcements the company has made in recent months. In October, Cyngn announced two wins in this sector: on October 17th, the Company announced that it had signed a commercial contract with a major manufacturer in the automotive service equipment space; two weeks later, the company announced it had executed a letter of intent to sell multiple DriveMod Tuggers to a global Automotive Supplier. The Company also joined John Deere's supply base in April.

“These exciting milestones reflect a strategic and ongoing effort to target a sector that we know stands to derive value from our solutions," said Lior Tal, Cyngn CEO. “Our DriveMod Tugger tows up to 12,000 pounds, which makes it an excellent solution to handle the high-uptime demands of moving heavy parts across automotive manufacturing floors."

The manufacturing industry is facing a critical talent shortage, with over 620,000 job openings unfilled as of January 2024 and a potential gap of 2.1 million jobs by 2030. Deloitte’s projections further underscore this challenge, estimating that the industry will need around 3.8 million new employees between 2024 and 2033 to keep up with demand. To bridge this workforce gap, leaders are demonstrating a growing need and willingness to invest in automation, with 90% recognizing it as vital to future success. However, only 9% of manufacturers have currently implemented autonomous technologies, leaving substantial room for growth as companies realize the efficiency gains and cost reductions that these innovations offer.

About Cyngn

Cyngn builds and deploys Autonomous DriveMod Tuggers for industrial organizations. The Company addresses significant challenges facing industrial operations today, including labor shortages and costly safety incidents.

The Autonomous DriveMod Tugger automates the repetitive material handling routes that keep manufacturing and warehouse floors running, without high upfront costs or infrastructure installation, and targets a typical payback period of less than two years.

Through EasyLaunch™, the Company's deployment program, customers can put one tugger on a single route for one monthly payment, with no capital expenditure and no long-term commitment.

Investor Contact

Natalie Russell, CFO

Media Contact

Luke Renner, Head of Marketing

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 Securities and Exchange Commission (SEC), including, without limitation the risk factors discussed in the Company's annual report on Form 10-K filed with the SEC on March 26, 2026. 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.

Press Release Disclosure

This blog post is provided for informational purposes only and is being cross-posted from the investor relations site as a courtesy. In the event of a discrepancy between what you see here and what you will find the investor relations site, the latter version shall control. You may find that version here: https://investors.cyngn.com/press-releases.

Similar posts