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Ouster (NYSE:OUST) announced on Monday that it has signed a strategic customer agreement with autonomous driving tech specialist Cyngn (NASDAQ:CYN).
The agreement will see Ouster’s (OUST) new REV7 digital lidar sensors to the Cyngn DriveMod platform that delivers autonomous solutions for both existing and new material handling vehicles in 2023.
Ouster (OUST) and Cyngn (CYN) aim to provide autonomous solutions to address significant challenges common to many industrial organizations such as labor shortages, costly safety incidents, and increased consumer demand for e-commerce requiring more automation.
“Cyngn’s platform is streamlining the adoption of autonomous technology for industrial fleets by making it simpler to add autonomy, powered by Ouster digital lidar, to existing and new material handling vehicles,” said Ouster (OUST) exec Nate Dickerman.
Cyngn (CYN) is displaying its DriveMod system at the Ouster (OUST) booth at CES this week in Las Vegas.
