Cyngn (NASDAQ:CYN) saw its stock rise 12% on Tuesday after announcing the commercial deployment of its DriveMod Tugger autonomous vehicle technology with G&J Pepsi, the largest independent Pepsi bottler in the United States.
The partnership signals Cyngn’s push into material handling for consumer-packaged goods, further expanding the use of its autonomous technology across multiple industries. G&J Pepsi will integrate the DriveMod platform to automate key material handling operations in its facilities.
“Our partnership with Cyngn underscores our commitment to innovation and operational excellence,” said Jeff Erwin, VP of Manufacturing & Quality at G&J Pepsi. “We just completed a 77K sq foot warehouse expansion and by integrating DriveMod into our material handling processes, we’re not only addressing today’s labor challenges but also positioning our business to meet the growing demands of tomorrow.”
Founded in 1925, G&J Pepsi serves customers across Ohio and Kentucky with a portfolio exceeding 650 products and a workforce of more than 1,900 employees. The company expects Cyngn’s autonomous solutions to boost operational efficiency and productivity.
Lior Tal, Cyngn’s Chairman and CEO, said the collaboration reflects the company’s mission to deliver “scalable, autonomous technology to leaders in essential industries.” The deployment is designed to help tackle labor shortages and enhance distribution capabilities within G&J Pepsi’s warehouse network.
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