Industrial autonomous vehicle developer Cyngn has signed two high-profile customers for its DriveMod autonomous vehicle technology. A Fortune 100 heavy machinery manufacturer will use its DriveMod Stockchaser in one of their many facilities, with potential to roll out globally. Cyngn also announced its largest order-to-date to deploy 100 DriveMod Forklifts to furniture and construction firm Arauco. Like the first order, the Arauco order also has the potential to expand across the customer’s entire operations.

Cyngn has also announced a partnership with BYD to bring Cyngn’s AI-driven autonomous technology to BYD’s electric forklifts. This will help BYD customers tackle labour shortages, increase overall manufacturing output and improve safety.

“We conservatively estimate that the addressable market for self-driving industrial vehicles is over $200 billion today. We are well-positioned to deliver the next generation of autonomous driving solutions to some of the most pressing problems in the industrial space. AI is transforming the way work gets done and given the traction we are seeing with DriveMod, Cyngn is at the forefront of that shift,” said Lior Tal, Cyngn chief executive.