Cyngn Signs Commercial Agreement to Supply Infinitracker for HEVI Electric Industrial Vehicles
October 20, 2022 at 08:05 AM EDT
Cyngn 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.
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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
When 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.
When 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.
Raymond 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.”
Lior 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.”
Find more information about Cyngn’s Infinitracker here.
HEVI, the clean industrial heavy equipment brand under Greenland Technologies Holding Corporation (NASDAQ: GTEC), produces all-electric, industrial-sized front loaders, excavators and other industrial equipment. HEVI’s strategy is focused on developing and manufacturing clean technology solutions, as well as helping customers transition their fleets to clean vehicles. Find more information at www.gethevi.com.
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.
Cyngn’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 costs or the need to completely replace existing vehicle investments.
Cyngn’s flagship product, its Enterprise Autonomy Suite, includes DriveMod (autonomous vehicle system), Cyngn Insight (customer-facing suite of AV fleet management, teleoperation, and analytics tools), and Cyngn Evolve (internal toolkit that enables Cyngn to leverage data from the field for artificial intelligence, simulation, and modeling).
To learn more about Cyngn’s autonomous vehicle technologies, please visit https://cyngn.com/.
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