BEIJING, Sept. 16, 2021 /PRNewswire/ -- Luokung
Technology Corp. (NASDAQ: LKCO) ("Luokung" or the "Company"), a
leading spatial-temporal intelligent big data services company and
provider of interactive location-based services ("LBS") and
high-definition maps ("HD Maps") in China, today announced that its operating
affiliate eMapgo Technology (Beijing) Co., Ltd. ("EMG"), a leading provider
of navigation and electronic map services in China, has signed a cooperation agreement with
Microsoft to launch autonomous driving services for automakers.
Under the terms of the agreement, EMG will work with Microsoft
to provide auto manufacturers with services including the
collection, storage, analysis, management and simulation testing of
autonomous driving data, to assist automakers in the rapid
implementation of autonomous driving technologies in China. EMG anticipates continuing to work with
Microsoft to provide these data services when large-scale
commercialization of autonomous driving takes place. Through this
relationship, EMG and Microsoft plan to use their expertise in each
of their respective fields to form a close cooperation that
addresses the market opportunities presented by autonomous driving
in China, creating an automobile
industry solution designed for the Chinese market.
EMG has already obtained service contracts from a European car
manufacturer and a U.S. car manufacturer. These contracts are
expected to be implemented in the coming months.
Mr. Xuesong Song, Chairman and
CEO, stated, "As the demand for flexible computing continues to
expand, China's autonomous driving
data service market shows significant room for growth. We believe
EMG's core competencies in LBS and HD Maps are an ideal fit with
Microsoft's considerable advantages in areas of cutting-edge
technology such as cloud computing, artificial intelligence,
elastic computing, and mixed reality. We are pleased to deepen our
existing relationship with Microsoft in this effort to promote the
development of safe and intelligent autonomous driving in
China."
About Luokung Technology Corp.
Luokung Technology Corp. is a leading spatial-temporal
intelligent big data services company, as well as a leading
provider of LBS and HD Maps for various industries in China. Backed by its proprietary technologies
and expertise in HD Maps and related intelligent spatial-temporal
big data, Luokung established city-level and industry-level
holographic spatial-temporal digital twin systems and actively
serves industries including autonomous driving, vehicle-road
collaboration (V2X), smart transportation, smart travel, local
business LBS, new infrastructure, smart cities, and smart
industries (emergency, natural resources, environmental protection,
water conservancy, energy, smart training, among others). The
Company routinely provides important updates on its website:
www.luokung.com/en.
ABOUT EMAPGO
eMapgo, a variable interest entity ("VIE") of Luokung, is a
leading provider of navigation and electronic map services in
China, as well as a leading
provider in Internet map services, geographic information system
engineering and other A-level mapping qualifications. EMG possesses
the National Class-A qualification certificates of navigable
Surveying and Mapping, and actively develops autonomous driving and
HD Map services. In March 2021,
Luokung closed on the acquisition of EMG through the purchase of
the equity interests of Saleya Holdings Limited, which, through a
series of contracts between its wholly-owned subsidiary DMG
Infotech Co., Ltd. and EMG, made EMG Luokung's VIE. For more
information, please visit EMG's website: www.emapgo.com.cn.
CAUTIONARY STATEMENT REGARDING FORWARD-LOOKING
STATEMENTS
This press release contains certain forward-looking statements.
Forward-looking statements include, but are not limited to,
statements regarding our or our management's expectations, hopes,
beliefs, intentions or strategies regarding the future and other
statements that are other than statements of historical fact. In
addition, any statements that refer to projections, forecasts or
other characterizations of future events or circumstances,
including any underlying assumptions, are forward-looking
statements. The words "anticipate", "believe", "continue", "could",
"estimate", "expect", "intend", "may", "might", "plan", "probable",
"potential", "should", "would" and similar expressions may identify
forward-looking statements, but the absence of these words does not
mean that a statement is not forward-looking.
The forward-looking statements in this press release are based
upon various assumptions, many of which are based, in turn, upon
further assumptions, including without limitation, management's
examination and analysis of the existing law, rules and regulations
and other data available from third parties. Although we believe
that these assumptions were reasonable when made, because these
assumptions are inherently subject to significant uncertainties and
contingencies which are difficult or impossible to predict and are
beyond our control, we cannot assure you the statement herein will
be accurate. As a result, you are cautioned not to rely on any
forward-looking statements.
CONTACT:
The Company:
Mr. Jay Yu
Chief Financial Officer
Tel: +86-10-5327-4727
Email: ir@luokung.com
Investor Relations:
Adam Prior
Senior Vice President
The Equity Group Inc.
Tel: 212-836-9606
Email: aprior@equityny.com
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SOURCE Luokung Technology Corp.