Cyngn receives pre-order for 100 autonomous forklifts

Cyngn recently secured a pre-order of 100 DriveMod Forklifts from Arauco, a global provider of sustainable forestry products. Once deployed, this order represents up to $5M in annual recurring EAS license revenues while addressing only a small portion of Arauco’s existing forklift fleet. DriveMod is an end-to-end autonomy system that enables the conversion of standard industrial vehicles into fully autonomous ones by utilizing Ouster’s advanced lidar sensors, other AV hardware components, and Cyngn’s software stack and AI models. Cyngn developed proprietary computer vision algorithms that are bundled into a Pallet Stack Attribute Estimation sub-system within the DriveMod perception stack. DriveMod also uses lidar to inform the location of its vehicles within the site.