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MANUFACTURING TECHNOLOGY

Greenland Technologies Selects Cyngn to Integrate Autonomous Vehicle Technology into Their Lithium-Powered Electric Forklift Fleet

Greenland Technologies | February 04, 2022

Cyngn, a developer of autonomous vehicle solutions for industrial fleets, and Greenland Technologies Holding Corporation, a technology developer and manufacturer of electric industrial vehicles and drivetrain systems for material handling machinery and vehicles, announced a strategic partnership on February 3 in which Cyngn will integrate its self-driving vehicle capabilities into Greenland forklifts via its proprietary Enterprise Autonomy Suite (EAS).

With the integration of EAS, Greenland forklifts will be able to effortlessly transition between completely autonomous, manual, and remotely operated modes. In addition, organizations that use Cyngn's self-driving technology also have access to a wide range of analytics and software tools that can help them improve their operations.

"Currently, there are over 850,000 forklifts operating in the United States alone,"

-stated Lior Tal, Cyngn’s Chairman and CEO.

Greenland is known as a leader in the electric industrial vehicle and equipment space. This partnership is a great way to bring self-driving technology to a common type of vehicle.

"This partnership is another major development as we execute on our plans to bring the most innovative technology to our customers. Autonomous forklifts will not only make it easier for our customers to get work done and provide them with data that has never been available before, but the technology will also help them achieve their environmental sustainability goals by operating vehicles more efficiently."

-Raymond Wang, CEO of Greenland

Greenland's GEF Electric Lithium Forklifts are intended for various industries, including transportation, warehousing, and manufacturing. They plan to add self-driving features to Greenland's electric loader and electric excavator in the next few months.

*This news release contains forward-looking statements as defined by Sections 27A and 21E of the Securities Act and Exchange Act of 1934, as amended.

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