Novo Nordisk, Eli Lilly fall after Trump comments on weight loss drug pricing
Investing.com -- Cyngn (NASDAQ:CYN) stock rose 12% Tuesday after the company announced a commercial deployment of its DriveMod Tugger autonomous vehicle technology with G&J Pepsi, the largest independent Pepsi bottler in the United States.
The partnership marks Cyngn’s expansion into material handling for consumer-packaged goods as the company works to broaden adoption of its autonomous technology across various industries. G&J Pepsi will integrate the DriveMod solution to automate material handling tasks within its facilities.
"Our partnership with Cyngn underscores our commitment to innovation and operational excellence," said Jeff Erwin, VP, Manufacturing & Quality at G&J Pepsi. "We just completed a 77K sq foot warehouse expansion and by integrating DriveMod into our material handling processes, we’re not only addressing today’s labor challenges but also positioning our business to meet the growing demands of tomorrow."
Founded in 1925, G&J Pepsi serves customers across Ohio and Kentucky with a portfolio of over 650 products and employs more than 1,900 workers. The company aims to improve productivity within its operations by incorporating Cyngn’s autonomous solutions.
Lior Tal, Cyngn’s Chairman and CEO, noted that the partnership aligns with the company’s goal to bring "scalable, autonomous technology to leaders in essential industries." The deployment is expected to help address labor challenges and optimize distribution capabilities in G&J Pepsi’s warehousing environments.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.