BEIJING, Sept. 7, 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 an agreement to provide
autonomous driving data services for Zenseact, 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. As a next step, Zenseact intends to
industrialize the autonomous driving platform and set real-life
autonomous safety benchmarks to increase the reliability of its own
products.
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 be partnering with Zenseact as
their autonomous driving data services provider and look forward 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 look to 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
related intelligent spatial-temporal big data, Luokung establishes
city-level and industry-level holographic spatial-temporal digital
twin systems serving 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: 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.
Effective March 17, 2021, Luokung consummated its 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:
Ms. Carolyne Sohn
Vice President
The Equity Group Inc.
Tel: 415-568-2255
Email: csohn@equityny.com
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SOURCE Luokung Technology Corp.