BEIJING, June 29,
2022 /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 an agreement to
continue to provide autonomous
driving data services for Zenseact after EMG obtained the Phase
I project in September of 2021. Zenseact is a wholly owned
subsidiary of Volvo Cars, the automotive division of the Swedish
multinational manufacturing company, focusing on the development of
autonomous driving and active safety software together with its
lead customer Volvo Cars.
EMG is China's leading
autonomous driving HD Maps service provider. The company led the
development of the industry standard for "Autonomous Driving
High-precision Map Collection Element Model and Interaction Format"
and standards for "Technical Requirements of Automated Valet
Parking Map and Localization" in China. EMG provides services such as mass
production of autopilot high-precision maps, autopilot simulation
testing, data collection and management for various automotive
manufacturers and Tier 1 suppliers and serves several reputable
customers such as Zenseact, Bosch, Continental, Audi, Ford, Volvo,
Volkswagen, Geely, Hongqi, BAIC New Energy, among others.
Mr. Xuesong Song, Chairman and
CEO, stated, "We are pleased to announce the signing of this
agreement following the Phase I project Luokung started to
provide since September 2021. We look forward to strengthening
our partnership with Zenseact as their autonomous driving data
services provider and to working closely with their team in
fulfilling their mission of creating a safe and reliable autonomous
driving platform. We believe this agreement with Zenseact
represents a tremendous opportunity for EMG's business expansion as
we remain confident in EMG's competitive advantages to successfully
establish new relationships with more partners around the
globe."
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 multi-sourced intelligent
spatial-temporal big data, Luokung has established city-level and
industry-level holographic spatial-temporal digital twin systems
and actively serves industries including smart transportation
(autonomous driving, smart highway and vehicle-road collaboration),
natural resource asset management (carbon neutral and environmental
protection remote sensing data service), and LBS smart industry
applications (mobile Internet LBS, smart travel, smart logistics,
new infrastructure, smart cities, emergency rescue, among others).
The Company routinely provides important updates on its website:
https://www.luokung.com.
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: +86-10-6506-5217
Email: ir@luokung.com
Investor Relations:
Ms. Carolyne Sohn
Vice President
The Equity Group Inc.
Tel: 415-568-2255
Email: csohn@equityny.com
Ms. Alice Zhang
Investor Relations Analyst
The Equity Group Inc.
Tel: 212-836-9610
Email: azhang@equityny.com
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SOURCE Luokung Technology Corp.