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Cyngn Signs Commercial Agreement to Supply Infinitracker for HEVI Electric Industrial Vehicles
MENLO PARK, Calif.--(BUSINESS WIRE)-- Cyngn Inc. (“Cyngn” or the “Company”) (Nasdaq: CYN), a developer of innovative autonomous driving solutions for
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[{"type":"text","content":" MENLO PARK, Calif.--(BUSINESS WIRE)--\nCyngn Inc. (“Cyngn” or the “Company”) (Nasdaq: CYN), a developer of innovative autonomous driving solutions for industrial and commercial applications, today announced it has signed a contract with HEVI, a manufacturer of electric industrial vehicles under Greenland Technologies Holding Corporation, to be HEVI’s exclusive supplier of vehicle tracking systems.\nThis press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20221020005430/en/Cyngn announces the signing of a commercial contract with HEVI, a manufacturer of electric industrial vehicles, to be HEVI’s exclusive provider of vehicle tracking systems. Source: Cyngn\nWhen customers purchase HEVI forklifts, excavators, or loaders, they will now have the ability to track the location of those vehicles: HEVI will include an Infinitracker installed on each purchased vehicle, as a value-added item for HEVI customers.\n\nWhen customers receive their new vehicles, they can register the Infinitracker asset tracking device and begin monitoring their vehicle through a simple web portal. Each Infinitracker unit contains sensors for location and temperature, and Infinitracker also serves as an IoT Gateway, which allows data from other Bluetooth sensors to be collected. Infinitracker’s battery lasts for years without charging, which enables vehicles to be tracked and data to be collected from nearby sensors even when vehicles are powered off.\n\nRaymond Wang, CEO of HEVI, commented, “Vehicle tracking is an important feature for our customers that want to leverage location tracking to maximize efficiency of their industrial equipment fleets. Infinitracker’s long battery life and features such as LTE Triangulation were key considerations in our choice to ship them with all new purchases of our all-electric heavy equipment.”\n\nLior Tal, Cyngn’s CEO, remarked, “We are pleased to be aligned with HEVI’s vision of sustainable, electric industrial vehicles. Infinitracker expands on Cyngn’s autonomous vehicle offering that is central to our Enterprise Autonomy Suite, which provides customers with valuable data insights that reinforce the connections between our AV and data analytics products with IoT and Industry 4.0.”\n\nFind more information about Cyngn’s Infinitracker here.\n\nAbout HEVI\n\nHEVI, the clean ...