BEIJING, March 5, 2020 /PRNewswire/ -- Luokung
Technology Corp. (NASDAQ: LKCO) ("Luokung" or the "Company"), one
of the global leading spatial-temporal big-data processing
technology companies, a leading interactive location-based services
company in China, today announced
that eMapgo Technologies
(Beijing) Co., Ltd.
("EMG") has entered into strategic partnership with
Continental Holding (China)
Co., Ltd. ("Continental" or Continental China), the subsidiary of
one of the world's leading automotive technology company
Continental AG (FWB: CON). Leveraging each other's respective
advantages, promote in-depth cooperation in the areas of
China's smart city, smart
mobility, and connected vehicle services etc. Luokung is in the process of the closing of
the100% acquisition of EMG.
EMG will provide Continental with legally compliant map data
(including ADAS map and HD map) in China, a variety of general and customized
functional services, including a fleet visualized management
solution for its connected vehicle platform. All of these
will optimize vehicle driving safety and operation efficiency,
provide information for effective decision-making for fleet
management, optimize transportation costs, and improve the
efficiency of smart logistic operations. The cooperated solutions
developed by both parties will also serve for various applications
in the fields involving connected vehicle platforms and smart
mobility.
Continental develops pioneering technologies and services for
sustainable and connected mobility of people and their goods.
Founded in 1871, the technology company offers safe, efficient,
intelligent and affordable solutions for vehicles, machines,
traffic and transportation. EMG is a top three map maker in
China, has been working closely
with Continental for a long time to provide intelligent location
services, including map data and map service platforms. Based on
the strength of Continental's advanced products, technology
advantages, engineering research and development experience in
connected vehicle service, and EMG's accumulated 16 years of
experience in the map industry, the two parties have determined to
cooperate in various forms in smart logistics (commercial vehicle),
smart city scene application, and connected vehicle platform in the
future.
About eMapgo Technologies (Beijing) Co., Ltd.
eMapgo Technologies (Beijing)
Co., Ltd. is one of the leading navigation electronic map service
providers in China and has obtained Class-A qualification
certificates of navigable surveying and mapping, internet map
service and geographic information system engineering. It has also
obtained quality management system certificates of ISO9001 and
ISO/TS16949 and CMMI3. Its core brand is "eMapgo". EMG provides
users with navigation electronic maps, ADAS maps and HD maps of
China, as well as geographic
location information service through its own map service platform.
Its map database has covered mainland China, Hong Kong and Macao with over
9-million-kilometer road networks and 80 million POIs. EMG is a top
three mapping company in automotive in-dash navigation market of
China.
About Luokung Technology Corp.
Luokung Technology Corp. is one of the global leading
spatial-temporal big-data processing technology companies and a
leading interactive location-based services company in China. The core business brands of the Company
are "Luokuang" and "Superengine". The Company mainly provides
spatial temporal big data PaaS, SaaS and DaaS intelligent services
based on its self-developed patented technology which can be
applied in Mobile Internet LBS, Internet Travelling, Intelligent
Transportation, Automatic Drive, Smart City, Intelligent IoT,
Natural Resources Exploration and Monitoring and so on. These
services are integrated intelligent computing and application
services for spatial temporal data which including but not limited
to Satellite and UAV Remote Sensing Image Data, HD Map, 2D and 3D
Internet Map, Real-time Trajectory, IoT Industrial Stream Data. For
more information please go to http://www.luokung.com.
Business Risks and Forward-Looking Statements
This news release contains forward-looking statements within the
meaning of Section 21E of the Securities Exchange Act of 1934, as
amended, and as defined in the U.S. Private Securities Litigation
Reform Act of 1995. These forward-looking statements can be
identified by terminology such as "will", "expects", "anticipates",
"future", "intends", "plans", "believes", "estimates", "target",
"going forward", "outlook" and similar statements. Such statements
are based upon management's current expectations and current market
and operating conditions and relate to events that involve known or
unknown risks, uncertainties and other factors, all of which are
difficult to predict and many of which are beyond the Company's
control, which may cause the Company's actual results, performance
or achievements to differ materially from those in the
forward-looking statements. Further information regarding these and
other risks, uncertainties or factors is included in the Company's
filings with the U.S. Securities and Exchange Commission. The
Company does not undertake any obligation to update any
forward-looking statement as a result of new information, future
events or otherwise, except as required under law.
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SOURCE Luokung Technology Corp.