Greenland Technologies Chooses Cyngn to Bring Autonomous Vehicle Technology to Their Fleet of Lithium-Powered Electric Forklifts
03 2월 2022 - 10:00PM
Business Wire
The partnership marks a key milestone in Cyngn and Greenland’s
ongoing efforts to bring scalable, secure, and reliable autonomous
vehicle technologies to industrial applications.
Cyngn (Nasdaq: CYN), a developer of autonomous vehicle
solutions for industrial fleets, and Greenland Technologies Holding
Corporation (Nasdaq: GTEC) (“Greenland”), a technology developer
and manufacturer of electric industrial vehicles and drivetrain
systems for material handling machinery and vehicles, today
announced they are embarking on a strategic partnership whereby
Cyngn will bring its self-driving vehicle capabilities to Greenland
forklifts with its proprietary Enterprise Autonomy Suite (EAS).
Integration of EAS will enable Greenland forklifts to switch easily
between fully autonomous, manual, and remotely-controlled modes.
Organizations that run Cyngn’s autonomous vehicle technology also
gain access to a breadth of analytics and software tools to
generate operational insights and optimizations.
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Cyngn and Greenland Technologies have
entered into a strategic partnership to bring self-driving vehicle
capabilities to Greenland forklifts. Source: Cyngn
“Currently, there are over 850,000 forklifts operating in the
United States alone,” stated Lior Tal, Cyngn’s Chairman and CEO.
“Greenland is a recognized leader in the electric industrial
vehicle and equipment space, and this partnership provides an
important opportunity to bring self-driving capabilities to this
widely-used and ubiquitous vehicle type.”
Raymond Wang, CEO of Greenland, added, “This partnership is
another major development as we execute on our plans to bring the
most innovative technology to our customers. Autonomous forklifts
will not only make it easier for our customers to get work done and
provide them with data that has never been available before, but
the technology will also help them achieve their environmental
sustainability goals by operating vehicles more efficiently.”
Greenland’s GEF Electric Lithium Forklifts are designed with
varying rated load capabilities and suited for a wide range of
applications, including logistics, warehousing, manufacturing and
more. In the months ahead, Cyngn and Greenland plan to bring
self-driving capabilities to Greenland’s other vehicles: the
electric loader and the electric excavator.
About Cyngn
Cyngn is an autonomous vehicle technology company that is
focused on addressing industrial uses for autonomous vehicles.
Cyngn believes that technological innovation is needed to enable
the adoption of autonomous industrial vehicles that will address
the substantial industry challenges that exist today. These
challenges include labor shortages, lagging technological
advancements from incumbents, and high upfront investment
requirements. Cyngn addresses these challenges with its Enterprise
Autonomy Suite, which includes DriveMod (modular industrial vehicle
autonomous driving software), Cyngn Insight (customer-facing
software suite for monitoring/managing AV fleets and
aggregating/analyzing data), and Cyngn Evolve (internal toolkit
that enables Cyngn to leverage data from the field for artificial
intelligence, simulation, and modeling).
To learn more, please visit https://cyngn.com/.
About Greenland Technologies
Greenland Technologies Holding Corporation (NASDAQ: GTEC) is a
developer and a manufacturer of drivetrain systems for material
handling machineries and electric vehicles, as well as electric
industrial vehicles. For more information visit
www.gtec-tech.com.
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 SEC. 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. Readers are cautioned that it is not possible to predict
or identify all the risks, uncertainties and other factors that may
affect future results.
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Carolyne Sohn Vice President, The Equity Group
csohn@equityny.com (415) 568-2255
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