BEIJING, Sept. 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") in China, today announced that the Company's
operating affiliate, eMapgo Technologies (Beijing) Co., Ltd. ("EMG"), a leading provider
of navigation and electronic map services in China, has been approved by the Ministry of
Transportation of China as the
first intelligent transportation pilot applications projects
(automatic driving and intelligent shipping direction) service
provider to form the technical guidelines and industry standard
based on pilot applications of V2X autonomous trucking on open
highways. With this accomplishment, the Company plans to begin
commercial implementation in the near future.
This project is led by Shandong Hi-Speed Group Co., Ltd.
("SDHS"), with joint participation of several enterprises including
EMG, China National Heavy Duty Truck Group Co., Ltd and Datang
Gaohong Company. Dr. Chuanjiu Wang, the Company's intelligent
transportation expert and the leader of China's transportation information service
industry, and his team is responsible for the overall design. By
using the key part of Shandong
highway and service zones held and operated by SDHS for trials, the
project aims to conduct pragmatic commercialized applications for
autonomous trucking, fleet management and intelligent logistics
transit scenarios based on EMG's V2X autonomous trucking management
platform. This project is a significant demonstration of how
intelligent transportation can help reduce logistics costs and
improve traffic efficiency with lower labor intensity and higher
stability of autonomous driving vehicles under adverse weather
conditions, which we believe will promote the development of V2X
and intelligent transportation in the industry. By leveraging the
experience gained from this project, EMG, together with partners
like SDHS, intend to actively promote commercialized
autonomous trucking and intelligent logistics transit services
across the country.
Dr. Dongpu Zhang, Luokung's President and the Chairman of EMG's
Board of Directors, stated, "we believe that being selected as a
service provider of the first intelligent transportation pilot
applications project is a validation of the Company's technology
advancement and commercialization implementation capability from
the national transportation department. By incorporating the
Company's leading technologies, including digital base, HD maps,
digital twins, V2X, smart highway, autonomous driving and smart
logistics, the company is providing systematic solutions to solve
current issues in the field of autonomous trucking. We believe that
this project will form a solid technical foundation for future
commercial operation and will support enhancement of the Company's
competitive advantage, to seize a greater market share in the
fast-growing V2X and autonomous driving market.
SDHS is a leading comprehensive infrastructure service provider
with registered capital of CNY45.9
billion and total assets of over CNY1
trillion. SDHS operates and manages approximately
8000-kilometers of motorway across the country. SDHS
has a Level AAA credit rating in China and a Level A international credit
rating.
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
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SOURCE Luokung Technology Corp.