Business
Cyngn Announces Raymond West, a Leading Dealer with $800M+ in Annual Sales, Will Begin Selling DriveMod Tuggers
MENLO PARK, Calif., Oct. 15, 2024 /PRNewswire/ -- Cyngn Inc. (Nasdaq: CYN) today announced the expansion of its dealer network to include Raymond West. A
About this update from Cyngn Inc.
[{"type":"text","content":"MENLO PARK, Calif., Oct. 15, 2024 /PRNewswire/ -- Cyngn Inc. (Nasdaq: CYN) today announced the expansion of its dealer network to include Raymond West. A leading distributor and integrator of intralogistics solutions, Raymond West will begin selling Cyngn's autonomous DriveMod Tugger. The autonomous tugger integrates Cyngn's AV technology with Motrec's MT-160.\n\n \n \n \n \n \n \n\n \n\"With 21 branches across the West Coast, Raymond West is an impressive company. It boasts more than $800 million in annual revenue — and we are excited to be able to add Cyngn's autonomous vehicles to their catalog,\" said Lior Tal, CEO of Cyngn. \"Motrec's industrial vehicles are known for high towing capacity and reliability. We are excited to equip Raymond West with the tools and training needed to offer our self-driving industrial vehicles to their customers. Their success is integral to our success.\"\nRaymond West's decision to join Cyngn's Dealer Network came after a successful summit hosted at Cyngn's Menlo Park headquarters, where key decision-makers experienced the company's autonomous mobile robots (AMRs) firsthand.\n\"We've identified several customers who stand to gain immensely from the DriveMod Tugger,\" stated Marc Breton, Vice President of Sales at Motrec. \"Autonomous industrial vehicle technology is revolutionizing manufacturing and logistics facilities, and the positive feedback from our sales channels confirms that automating a high-tow capacity vehicle like the MT-160, renowned for its quality, is a game-changer.\"\nCyngn plans to continue expanding its Dealer Network by adding more distribution and integration partners in the future. To join Cyngn's dealer network, please visit https://www.cyngn.com/company/dealer-network.\nAbout 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.\nCyngn'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 cos...