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Cyngn Launches Paid Deployment with Fortune 100 Heavy Equipment Manufacturer in North American Facility

Cyngn will be towing parts at a large facility that uses hundreds of work vehicles to support manufacturing of hundreds of machines per day.

Cyngn |

MENLO PARK, Calif., Sept. 26, 2023  – Cyngn Inc. (the “Company” or “Cyngn”) (Nasdaq: CYN), a developer of AI-powered autonomous driving solutions for industrial applications, today announced the beginning of its deployment with a Fortune 100 Heavy Equipment Manufacturer to use DriveMod Stockchasers in one of its North American facilities

This agreement, originally announced in July, is part of the manufacturer’s goal to increase automation and technology adoption in their operations. The deployment will utilize Cyngn’s DriveMod technology, which allows users to fully automate repetitive driving tasks, helping the customer combat labor shortages while increasing efficiency and safety at the facility.

“This deployment demonstrates Cyngn's ability to accommodate the growing industry demand for autonomous industrial vehicles,” said Lior Tal, chief executive officer of Cyngn, “By leveraging Cyngn's AI solutions, companies are addressing the opportunity of automating the repetitive tasks required for efficient manufacturing.

The deployment spearheads the collaboration between the two companies, introducing Cyngn’s DriveMod technology to a facility that has manufactured over one million machines since it opened and strives to continue growing its manufacturing output while overcoming the challenges of labor availability and costs. The companies are in talks to expand autonomous vehicle usage after this initial deployment. The customer has more than 50 sites with similar towing applications and a variety of additional vehicle types that can be addressed by DriveMod, including forklifts.

“This is a demonstration of our ‘land and expand’ strategy, wherein an initial deployment serves as the catalyst to expand DriveMod adoption with major customers,” said Tal. “It’s a strategy that not only leads to the potential penetration of the initial vehicle—in this case, the DriveMod Stockchaser—across facilities, but it also opens the opportunity for the customer to adopt additional DriveMod vehicles.”

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.

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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.

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