Arauco and Cyngn Select South Carolina Facility to Spearhead Electrification and Automation Rollout

Arauco and Cyngn Select South Carolina Facility to Spearhead Electrification and Automation RolloutOn August 8, Cyngn announced that Arauco had signed an agreement for a paid pre-order of 100 DriveMod Forklifts to help them automate their material handling workflows at wood and pulp manufacturing facilities. The companies plan the initial delivery of DriveMod Forklifts to Arauco starting in mid 2024 in Bennettsville, South Carolina. Cyngn and Arauco plan to work together to expand the DriveMod autonomous fleet across Arauco's 40+ global sites. About CyngnCyngn develops and deploys scalable, differentiated autonomous vehicle technology for industrial organizations. Cyngn undertakes no obligation to publicly update any forward-looking statement, whether as a result of new information, future events, or otherwise.