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Airbiquity Partners with Cyngn to Help Material Handling Companies Evolve Vehicle Fleets into Autonomous Systems

Technology Partnership Enables Companies to Tap into Gains from Self-Driving Technology without Replacing Entire Vehicle Fleet.

Melanie Stone |

 

SEATTLE – July 22, 2021 – Airbiquity®, a global leader of connected vehicle services, today announced its partnership with Cyngn, an autonomous vehicle (AV) technology provider. Cyngn’s flagship product, DriveMod, is an end-to-end autonomy solution that can be flexibly deployed on multiple vehicle types in various environments. By integrating Airbiquity’s OTAmatic® over-the-air software management platform and the Cyngn DriveMod autonomous driving system, organizations can invest in industrial AV technology that starts generating value today while being prepared to tackle the challenges of tomorrow. According to Global Market Insights Inc., the material handling equipment market is estimated to reach US $200 billion by 2027.

Industrial AV solutions often require companies to replace their entire existing vehicle fleet. The Airbiquity and Cyngn partnership shifts that paradigm. The technology stack that results from this partnership will enable companies operating in the materials handling market to securely evolve their vehicle fleets into AV systems that can be updated and refined over time, leading to increased autonomous fleet management efficiency and up-time. 

“On the heels of announcing our OTAmatic expansion into non-automotive industry vehicles, this partnership is further validation of the need for safe and secure industrial-grade over-the-air software update management technology to ensure that autonomous vehicles are running most efficiently,” said Kamyar Moinzadeh, President and CEO of Airbiquity. “Working with Cyngn, we have the opportunity to guide the future of autonomous vehicles and make our technology accessible to more industries.” 

OTAmatic is an over-the-air (OTA) Software and data management solution that securely orchestrates and automates connected vehicle software updates and data management from the cloud.  Businesses use OTAmatic to efficiently plan and execute OTA campaigns with 

refined vehicle and device targeting, discrete policy and privacy controls, customizable user communications, and solution deployment flexibility. 

“Autonomous vehicle fleets generate vast amounts of data, which we leverage to derive greater insights and create opportunities for increased efficiency,” said Cyngn’s CEO Lior Tal. “By using Airbiquity’s most advanced and industry-proven over-the-air update technology, companies gain access to these ever-expanding capabilities without disrupting their daily operations.” 

DriveMod is Cyngn’s full-stack autonomous vehicle solution, delivering intelligent analytics, artificial intelligence, advanced safety features, and self-driving capabilities for industrial vehicles. The technology is vehicle agnostic, which means DriveMod works across all kinds of industrial vehicles, regardless of age, vehicle type, or manufacturer. DriveMod enables fleets of all shapes and sizes to drive autonomously via a simple retrofit or by being embedded directly into original equipment manufacturer (OEM) vehicles at assembly. 

Over time and with more data, DriveMod will develop a deeper understanding of the domains in which it operates. This information, combined with OTAmatic’s over-the-air software updates, will ensure autonomous vehicle fleets continue to generate novel value and efficiencies. To see DriveMod in action, please check out this video.

About Airbiquity 

Airbiquity® is a global leader in connected vehicle services and a pioneer in the development and engineering of automotive telematics technology. Always at the forefront of automotive innovation, Airbiquity develops the industry's most advanced cloud-based connected vehicle software technology, most recently over-the-air (OTA) software update and data management with OTAmatic®. Working with Airbiquity, automakers and automotive suppliers have deployed highly scalable, manageable, and secure connected vehicle service programs for millions of vehicles meeting the needs of their customers in over 60 countries around the world. Learn more about Airbiquity at www.airbiquity.com or join the conversation @Airbiquity. 

About Cyngn

Cyngn develops and deploys scalable, differentiated autonomous vehicle technology for industrial organizations. Cyngn's self-driving solutions allow existing workforces to increase productivity and efficiency. The Company addresses significant challenges facing industrial organizations today, such as labor shortages, costly safety incidents, and increased consumer demand for eCommerce.

Cyngn's DriveMod Kit can be installed on new industrial vehicles at end of line or via retrofit, empowering customers to seamlessly adopt self-driving technology into their operations without high upfront costs or the need to completely replace existing vehicle investments.

Cyngn's flagship product, its Enterprise Autonomy Suite, includes DriveMod (autonomous vehicle system), Cyngn Insight (customer-facing suite of AV fleet management, teleoperation, and analytics tools), and Cyngn Evolve (internal toolkit that enables Cyngn to leverage data from the field for artificial intelligence, simulation, and modeling).

Investor Contact:

Don Alvarez

Media Contact:

Luke Renner

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 (the "SEC"), including, without limitation the risk factors discussed in the Company's annual report on Form 10-K filed with the SEC on March 7, 2024. 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.

Cautionary Note. References and links to websites have been provided as a convenience, and the information contained on such websites is not incorporated by reference into this press release. Cyngn is not responsible for the contents of third-party websites.

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