BEIJING, July 25,
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 it has signed an agreement with the government of
Jiujiang District, Wuhu City in Anhui
Province for an intelligent networking based vehicle/ship
autonomous driving project. Hongdajiutong Technology Development
Co.,Ltd.("HDtraffic"), an affiliate of Luokung, is
providing comprehensive implementation and commercial promotion for
the project, which marks a significant initial step in the
Company's active expansion into the new market of intelligent
shipping and land transportation that is expected to generate
ongoing income for the Company.
This major project has received multimillion of RMB funds from
the government. According to the terms of the agreement,
Luokung is conducting the research and development of the
autonomous driving and driving assistance systems, including
hardware and software, for intelligent networking technology of
both road vehicles and ships, supporting the application of
autonomous shipping systems and strive to realize the
first domestic open-highway autonomous truck operation
project in China. An
integrated ship-vehicle-cloud Digital Twin model will be
built in this project, based on Wuhu's unique
geographical advantages as a national integrated
transportation hub with ports on the Yangtze River, to open up
a new intelligent networked business scenario.
Mr. Xuesong Song, Chairman and
CEO, stated, "We are excited to be working with the Jiujiang
District government on this monumental autonomous driving project.
We believe this project is just the begining of the
intelligent networking technology applications in autonomous
driving and shipping scenarios. Luokung has signed a long-term
cooperation with the local government and actively engages in the
commercial implementation based on local business related
scenarios. The results achieved from this project will be
leveraged to form a mature commercialized business model that has
the potential for expansion into the national market in the
future."
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.
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.