MENLO PARK, Calif., February 29, 2024 – Cyngn (Nasdaq: CYN) will attend MODEX 2024 with Motrec International Inc. on March 11 to 14, 2024, in Atlanta, Georgia. Cyngn is thrilled to offer a sneak peek into its latest innovation at MODEX 2024: the DriveMod Tugger. For the very first time, Cyngn will debut its fully-autonomous DriveMod-enabled MT-160 tow tractor from Motrec in its booth (A13913), located in the Transportation and Logistics Solution Center in Hall A of Atlanta’s Georgia World Congress Center.
“Manufacturing and supply chain operations are rapidly evolving, emphasizing the heightened importance of staying at the forefront of innovation in today’s dynamic landscape," said Lior Tal, the Chairman and Chief Executive Officer of Cyngn. “That’s why we are excited to exhibit with our partners at Motrec to show visitors how our DriveMod Tugger, designed for efficient and safe heavy-load towing, offers organizations a clear path to enhance efficiency, agility, and supply chain resiliency within their operations. This positions us as a valuable partner for the manufacturing and supply chain decision-makers at this event.”
Cyngn’s DriveMod Tugger aims to improve goods transportation cost-effectively and safely. Equipped with automatic unhitching capabilities, it boasts an impressive towing capacity of over 6,000 pounds and a 54-inch turning radius.
Recognized as one of the largest premier material handling trade shows, MODEX draws over 45,000 professionals from the manufacturing, supply chain, and transportation sectors, bringing together the entire industry to provide end-to-end solutions for operations.
If you’d like to meet with Cyngn while at MODEX 2024, visit https://www.cyngn.com/contact.
Cyngn develops and deploys autonomous vehicle technology for industrial organizations like manufacturers and logistics companies. The Company addresses significant challenges facing industrial organizations today, such as labor shortages and costly safety incidents.
Cyngn's DriveMod technology empowers customers to seamlessly bring self-driving technology to their operations without high upfront costs or infrastructure installations. DriveMod is currently available on Motrec MT-160 Tuggers and BYD Forklifts.
The DriveMod Tugger hauls up to 12,000 lbs, travels inside and out, and targets a typical payback period of less than 2 years. The DriveMod Forklift lifts heavy loads that use non-standard pallets and is currently available to select customers. For all terms referenced within, please refer to the Company's annual report on Form 10-K with the SEC filed on March 6, 2025.
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 6, 2025. 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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