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Ouster and Cyngn Sign Strategic Agreement to Deliver Digital Lidar-Powered Autonomy Technology to Industrial Vehicles
Cyngn DriveMod-enabled Stockchaser to be on display in Ouster booth #6541 at CES 2023 SAN FRANCISCO--(BUSINESS WIRE)-- Ouster, Inc. (NYSE: OUST) (“Ouster”),
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[{"type":"text","content":"\nCyngn DriveMod-enabled Stockchaser to be on display in Ouster booth #6541 at CES 2023\n\n SAN FRANCISCO--(BUSINESS WIRE)--\nOuster, Inc. (NYSE: OUST) (“Ouster”), a leading provider of high-resolution digital lidar sensors, announced today that it has signed a strategic customer agreement with Cyngn (Nasdaq: CYN), a developer of innovative autonomous driving software solutions for industrial and commercial applications. The agreement will add Ouster’s new REV7 digital lidar sensors to the Cyngn DriveMod platform that delivers autonomous solutions for both existing and new material handling vehicles in 2023.\nThis press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20230103005183/en/Cyngn’s DriveMod-enabled Columbia Stockchaser cargo vehicle outfit with an Ouster REV7 sensor. (Photo: Business Wire)\nOuster will showcase Cyngn’s DriveMod platform, outfit with a REV7 sensor, on a Columbia Stockchaser cargo vehicle in its booth #6541 at CES 2023 in the West Hall of the Las Vegas Convention Center from January 5-8, 2023.\n\nCyngn develops and deploys scalable, differentiated autonomous vehicle technology for industrial organizations. Cyngn’s self-driving solutions allow existing vehicle fleets to drive themselves. Together, Ouster and Cyngn aim to provide autonomous solutions to address significant challenges common to many industrial organizations such as labor shortages, costly safety incidents, and increased consumer demand for e-commerce requiring more automation.\n\n“Cyngn’s DriveMod was developed to support faster, more cost-effective deployments of industrial autonomy solutions, thereby solving major scalability and adoption issues faced by companies interested in reaping the benefits of greater levels of automation,” said Cyngn CEO, Lior Tal. “DriveMod simplifies what can otherwise be a complex installation process, and requires high-performing sensor technology such as Ouster lidar sensors, which maximizes the vehicle’s self-driving capabilities.”\n\nDriveMod is an all-in-one autonomy integration package that enables the conversion of standard industrial vehicles into fully autonomous ones by utilizing advanced lidar sensors, hardware components, and AI software. DriveMod can be installed into new vehicles off the assembly line or retrofitted into existing vehicles.\n\n“Cyng...