[Mountain View, California, October 1, 2026 / PRNewswire /] Cyngn (Nasdaq ticker: CYN) announced today that the utilization rate of its autonomous vehicle fleet continued to grow in the second quarter of 2026, with the volume of autonomous driving tasks increasing by 45% month-on-month, setting a new fleet activity record in June.
This growth is reflected in multiple practical usage indicators. In the second quarter, driving mileage increased by 67% month-on-month, and autonomous driving time increased by 55% month-on-month.
Cyngn indicates that during this period of growth, the company continues to focus its business strategy on transitioning autonomous vehicles from initial deployment to repeatable industrial workflows. At customer sites, DriveMod vehicles perform repetitive material handling tasks, aiming to reduce manual transportation work and help factories operate more efficiently.
Cyngn CEO Lior Tal stated: "When an autonomous vehicle becomes a part of daily operations, it creates the greatest value. What we observe across our entire fleet is that as customers incorporate automated material handling into their regular work processes, the utilization rate is increasing."
DriveMod Autonomous Tugger designed specifically for repetitive material handling in manufacturing and industrial facilities. The system operates along established routes and is managed through the company's fleet management software Cyngn Insight.
Cyngn has deployed its autonomous vehicle technology into a variety of industrial environments. The company is increasingly focusing on use cases that can be quickly deployed, continuously repeated, and scaled as customers identify more routes and work processes.
The increase in utilization rate in the second quarter further reflects this progress, and the increase in task volume, driving hours, and mileage ultimately led to record fleet activity in June.
About Cyngn
Cyngn develops and deploys autonomous vehicle technology for industrial organizations such as manufacturers and logistics companies. The company is committed to solving the major challenges faced by industrial organizations today, such as labor shortages and high costs associated with safety accidents.
The DriveMod technology of Cyngn enables customers to seamlessly integrate autonomous driving technology into their operations without incurring high upfront costs or infrastructure installation. DriveMod Tugger can tow up to 12,000 pounds of cargo and is capable of operating both indoors and outdoors, with a typical payback period of less than 2 years.
Investor Contact
Natalie Russell
CFO[ email protected ]Media Contact
Luke Renner
Marketing Supervisor[ email protected ]Cyngn Information Channels
- Website: https :// cyngn.com
- X: https :// x.com / cyngn
- LinkedIn : https :// www.linkedin.com / company / cyngn
- YouTube : https :// www.youtube.com /@ cyngnhq
Forward-looking Statements
This press release contains forward-looking statements as defined by the Private Securities Litigation Reform Act of 1995, Section 27A of the Revised Securities Act of 1933, and Section 21E of the Revised Securities Exchange Act of 1934. Any statements that are not historical in nature constitute forward-looking statements and may be identified by words such as "expects," "anticipates," "believes," "will," "is likely to result in," "will continue," "plans," "potential," "promising," or similar expressions. These statements are based on management's current expectations and judgments and are subject to various risks, uncertainties, and assumptions, which could lead to significant differences between actual results and those described in the forward-looking statements. These include risk factors mentioned in the reports periodically submitted by the company to the U.S. Securities and Exchange Commission (SEC), particularly those discussed in the company's 10-K annual report filed with SEC on March 26, 2026. Readers are reminded that it is impossible to predict or identify all risks, uncertainties, and other factors that may affect future results. No forward-looking statement guarantees that objectives will be achieved, and actual results may differ significantly from predictions. Cyngn assumes no obligation to publicly update any forward-looking statements due to new information, future events, or other reasons.
