Back to Press Releases

Cyngn to Attend the American Aerospace and Defense Summit with Motrec International Inc. to Capitalize on Recent Commercial Announcements

Cyngn will attend the American Aerospace and Defense Summit with Motrec International Inc. on December 4-5, 2023 in Fort McDowell, AZ.

Cyngn |

PHOENIX, AZ., November 30, 2023  – Cyngn Inc. (the “Company” or “Cyngn”) (Nasdaq: CYN), a developer of AI-powered autonomous driving solutions for industrial applications, will attend the American Aerospace and Defense Summit with Motrec International Inc. on December 4-5 at the We-Ko-Pa Resort near Phoenix. The American Aerospace and Defense Summit is a leadership-focused event about maximizing manufacturing production, enhancing operational capabilities, and minimizing threats and risks throughout supply chain operations.

 “Manufacturing in the aerospace and defense sectors requires incredible towing capacity and the ability to haul thousands and thousands of pounds across vast facilities,” said Lior Tal, the Chairman and Chief Executive Officer of Cyngn. “Before Cyngn, it was nearly impossible to automate these workflows, which meant hundreds of forklift drivers would typically shuttle materials around the facility. Today, Cyngn’s industry-leading autonomous DriveMod Tugger boasts an incredible 6,000-pound towing capacity. This makes us a perfect partner for the companies and decision makers we look forward to meeting at this event.”

If you’d like to meet with executives from Cyngn while at the American Aerospace and Defense Summit, visit https://www.cyngn.com/contact.

About Cyngn

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.

Investor Contact

Natalie Russell, Interim 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 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.

Similar posts