Cyngn Inc. (NASDAQ: CYN) shares began the week’s last session by announcing the expansion of its dealer network to include Kennedy Robotics AI, a provider of innovative autonomous robotics solutions. Kennedy Robotics will begin selling Cyngn's autonomous DriveMod Tugger, which bundles Cyngn's AV technology with Motrec's MT-160 vehicle.
"We are excited to welcome Kennedy Robotics AI to our growing dealer network, bringing the DriveMod Tugger to even more businesses seeking reliable, safe, and innovative AV solutions," said Cyngn CEO Lior Tal.
"Safety is fundamental to every product we build at Cyngn, which is reflected in the rigorously engineered design of our autonomous technology stack. As we tap into new markets with each partnership, we remain committed to upholding these high performance standards through capabilities like 360-degree perception, designed to safeguard employees and minimize the risk of costly incidents."
This morning’s news release also said, the announcement comes on the heels of two recent dealer network expansions: the addition of RobotLab, a robotics company with over 10,000 robots deployed, and Alta Equipment Group, which boasts more than $1 billion in annual sales. Looking ahead, Cyngn is dedicated to further growing its dealer network by bringing on additional distribution and integration partners.
CYN shares ducked five cents, or 1.4%, Friday to $3.60.
