Cyngn announced the Cyngn Dealer Network. This strategic initiative is designed to accelerate the widespread adoption of Cyngn's autonomous vehicle (AV) software products by partnering with dealers and service providers on joint sales efforts to create new revenue opportunities and provide cutting-edge solutions to their customers. Multiple dealers and service providers have already partnered with Cyngn, including prominent distributors of BYD forklifts in the Midwest--a region the Company has been growing its footprint in via its traction in automotive and other heavy equipment manufacturing.

Cyngn's technology integrates with vehicles from prominent Original Equipment Manufacturers (OEMs) in the industry, including BYD, Motrec, and Columbia Vehicle Group. OEMs typically have their own established dealer networks, and Cyngn engages those channels via its OEM relationships. With the launch of this network, dealers have the option to engage more closely with Cyngn to expand their offerings and introduce self-driving technologies to their customers as an additional revenue stream.

Dealers participating in Cyngn's recently-launched network will be able to take advantage of co-marketing opportunities and resources. The Industrial Automation Market is expected to reach $306.2 billion by 2027, according to Meticulous Market Research Inc. This rapid surge in industrial autonomy has brought profound changes in workflow, profit pools, and value chains, ushering global industries into an era of unprecedented transparency, flexibility, scalability, and efficiency.