Press Release (ePRNews.com) - MENLO PARK, Calif. - Mar 04, 2021 - Cyngn, the autonomous vehicle organization, announced a partnership with Formel D, the international service provider to the automotive technology and supply industry. The collaboration will help Cyngn deploy DriveMod, its autonomous vehicle technology, across a variety of industries and applications.
“For us, the Formel D partnership was a no-brainer,” said Cyngn’s CEO Lior Tal. “For the last four years, we’ve been building our self-driving vehicle technology and deploying it in a variety of limited use cases. 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.
“Formel D has a sterling reputation for quality assurance and a deep experience retrofitting existing vehicle fleets with innovative technologies. We are very excited to work with them.”
“We are very much looking forward to working with an emerging and future-ready company like Cyngn,” added Matthias Grossmann, Vice President Strategy & Digitalization at Formel D. “We are happy to contribute our expertise regarding autonomous vehicles and our experience from numerous projects along the entire automotive value chain.”
About Formel D
Founded in 1993, Formel D is a globally 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 — from product development and production to aftersales. Formel D now employs over 12,000 associates and is present across the globe with more than 90 locations in 22 countries. The Formel D Group’s subsidiaries include CPS Quality, Formel K GmbH, and Vdynamics GmbH.
Cyngn is a Silicon Valley venture-backed company that counts some of the world’s leading institutions among its investors, including Andreessen Horowitz, Benchmark Capital, Index Ventures, Qualcomm, Telefonica, and more. Cyngn’s 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. The company has been operating autonomous vehicles in production environments since 2017.
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