Cyngn has announced a partnership with Formel D to the automotive technology and supply industry.
While the former is an autonomous vehicle organization, the latter is an international service provider.
The partnership will help Cyngn deploy DriveMod, its autonomous vehicle technology, across a variety of industries and applications.
Cyngn’s CEO Lior Tal, said, “For us, the Formel D partnership was a no-brainer. For the last four years, we’ve been building our self-driving vehicle technology and deploying it in a variety of limited use cases.”
He added: “However, it was always our intention to stay focused on R&D and leave the integration piece to organizations with the people-power and reach to meet the increasing demand for our technology solutions.”
Matthias Grossmann, Vice President Strategy & Digitalization at Formel D, said, “We are very much looking forward to working with an emerging and future-ready company like Cyngn.”
“We are happy to contribute our expertise regarding autonomous vehicles and our experience from numerous projects along the entire automotive value chain,” he stated further.
Know the two cos
A Silicon Valley venture-backed company, Cyngn counts some of leading institutions among its investors, including Andreessen Horowitz, Benchmark Capital, Index Ventures, Qualcomm, Telefonica, etc.
Its flagship innovation is DriveMod, autonomous driving software that can be flexibly deployed on multiple vehicle types in various environments — either straight off the factory floor or as a retrofit to existing fleets.
Started in 1993, Formel D is an internationally active service provider to the automotive and supply industry. The group develops concepts and scalable solutions for quality assurance and process optimization along the entire automotive value chain that ranges from product development and production to aftersales.
(With inputs from Automotive Lead Research Team)
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