Cyngn Inc. (NASDAQ: CYN) today announced the initiation of a production deployment with COATS Company, the largest full-line wheel service equipment manufacturer in North America, boasting over 70 years of industry experience. The deployment of Cyngn's DriveMod Tugger is underway at COATS' 150,000+ square foot manufacturing facility in La Vergne, Tennessee.
This deployment will leverage Cyngn's previously announced next-generation DriveMod Tugger, which features an increased towing capacity from 6,000 lbs to 12,000 lbs. By automating the delivery of wheel service components from its production lines, COATS will be able to enhance efficiency and further its innovation goals at the facility.
Steve Bergmeyer, Continuous Improvement and Quality Manager at COATS, said "Cyngn's self-driving tugger was the perfect solution to support our strategy of advancing automation and incorporating scalable technology seamlessly into our operations. With its high load capacity, we can concentrate on increasing our ability to manage heavier components and bulk orders, driving greater efficiency, reducing costs, and accelerating delivery timelines."
"We're excited to be working with a major North American automotive service equipment manufacturer that's trusted by wheels service professionals worldwide," said Cyngn CEO Lior Tal. "This win highlights the growing commercial momentum behind our autonomous DriveMod products. We're continuing to find a perfect fit with companies that do high-uptime heavy manufacturing, especially in the automotive sector where maximizing production efficiency is crucial."
CYN shares shed two cents, or 3.6%, to 59 cents.
