Recent Operating Highlights: Continued momentum in the automotive sector, reaching a milestone of executing successful DriveMod Tugger deployments at various stages with five major automotive OEMs and Tier-1 suppliers across the U.S. and Mexico. Signed a contract to deploy a DriveMod Tugger at a global Fortune 500 automotive supplier. Secured its 22nd U.S. patent for AI-powered autonomous vehicle technologies. Cyngn received approximately $308k of new bookings for DriveMod vehicles from direct sales during ...

Core Viewpoint - Cyngn has been granted its 22nd U.S. patent, enhancing its position in the autonomous vehicle industry and reflecting its commitment to innovation in AI-powered AV technologies [1][4]. Patent Details - The newly granted patent, titled "System and Methods of Off-Board Centric Autonomous Driving Computation," introduces a cloud-based approach that reduces onboard hardware requirements by distributing computing tasks between the vehicle and the cloud [2][13]. - This patent allows vehicles to transmit sensor data to cloud servers for processing tasks such as environment mapping, decision-making, and route planning, which are then sent back to the vehicle for execution [2][13]. Significance of the Patent - The patent enables the development of lighter and more cost-effective autonomous vehicles while supporting sophisticated driving algorithms [3][14]. - It also includes fleet management functionality, allowing for the coordination of multiple autonomous vehicles through a centralized cloud infrastructure [3][14]. Company Strategy - Cyngn's CEO emphasized that the recent patent grants reflect the company's dedication to advancing autonomous technology and building a robust patent portfolio to protect its intellectual property [4]. - The company aims to provide customers with a seamless way to adopt self-driving technology without incurring high upfront costs [5][9]. Product Offerings - Cyngn's flagship product, the Enterprise Autonomy Suite, includes the DriveMod (autonomous vehicle system), Cyngn Insight (AV fleet management tools), and Cyngn Evolve (internal toolkit for leveraging field data) [10].