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Stock impact report

Cyngn Announces Raymond West, a Leading Dealer with $800M+ in Annual Sales, Will Begin Selling DriveMod Tuggers [Yahoo! Finance]

Cyngn Inc. (CYN) 
Company Research Source: Yahoo! Finance
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 integrates Cyngn's AV technology with Motrec's MT-160. "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." Raymond 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) firstha Show less Read more
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