Cyngn Inc. CYN shares are skyrocketing Thursday after the company announced the issuance of a new patent, US-11,837,089-B2, for the autonomous vehicle (AV) and driving solutions.
Cyngn's new patent secures its unique modular extensible behavioral decision system for autonomous vehicles. It integrates environmental factors, like regions of interest and objects, to guide the vehicle's decision-making process.
Cyngn aims to provide its customers with advanced automation via its DriveMod autonomous vehicle solutions that leverage state-of-the-art sensors and AI to produce humanlike driving capabilities across multiple vehicle types without requiring site infrastructure overhauls.
"In navigating the dynamic currents of our evolving industry, we are committed to building out a robust patent portfolio to protect our intellectual property," said Chairman and Chief Executive Officer Lior Tal.
"These novel inventions help to set us apart by enabling automation solutions with unique value propositions to our customers," Tal added.
Price Action: CYN shares are trading higher by 117% to $0.5298 premarket on the last check Thursday.
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