Luokung’s affiliate eMapGo continues to provide self-driving data services for Zenseact

BEIJING, June 29, 2022 /PRNewswire/ — Luokung Technology Corp. (NASDAQ: LKCO) (“Luokung” or the “Company”)a leading intelligent spatial and temporal big data service company and provider of location-based interactive services (“LBS”) and high-definition maps (“HD Maps”) in Chinatoday announced that its operating subsidiary eMapGo Technology (beijing) Co., Ltd. (“EMG”), a leading provider of navigation and electronic map services in Chinasigned an agreement to continue to bring autonomous driving data services for Zenseact after EMG obtained the Phase I project in September 2021. Zenseact is a wholly owned subsidiary of Volvo Cars, the automotive division of the Swedish multinational manufacturing company, which focuses on the development of autonomous driving and active safety software with its main customer Volvo Cars.

The EMG is China leading provider of self-driving HD map services. The company led the development of the industry standard for the “High Accuracy Card Collection Item Model for Self-Driving and Interaction Format” and standards for “Automated Valet Parking Map and Location Technical Requirements” in China. EMG provides services such as mass production of high-precision autopilot boards, autopilot simulation testing, data collection and management for various car manufacturers and Tier 1 suppliers and serves several well-known customers such as Zenseact, Bosch, Continental, Audi, Ford, Volvo, Volkswagen, Geely, Hongqi, BAIC New Energy, among others.

Mr. Song XuesongCEO, said: “We are pleased to announce the signing of this agreement following phase I of the Luokung project started at to bring since September 2021. We look forward to strengthening our partnership with Zenseact as a provider of self-driving data services and working closely with their team to fulfill their mission of creating a safe and reliable self-driving platform. We believe that this agreement with Zenseact represents a tremendous opportunity for the expansion of EMG’s business, as we remain confident in EMG’s competitive advantages to successfully establish new relationships with more partners around the world. »

About Luokung Technology Corp.

Luokung Technology Corp. is a leading spatiotemporal intelligent big data service company, as well as a leading provider of LBS and HD boards for various industries in China. Relying on its proprietary technologies and expertise in HD maps and multi-source intelligent spatial and temporal big data, Luokung has established holographic spatial-temporal digital twin systems at the city and industry levels and actively serves industries such as smart transportation (autonomous driving, smart highway and vehicle-road collaboration), natural resource management (carbon-neutral remote sensing data service and environmental protection), and LBS smart industrial applications (LBS mobile internet, travel smart, smart logistics, new infrastructure, smart cities, emergency rescue, among others). The Company regularly provides important updates on its website: https://www.luokung.com.

ABOUT EMAPGO

eMapgo, a variable interest entity (“VIE”) of Luokung, is one of the leading providers of electronic map and navigation services in China, as well as a leading provider of Internet Mapping Services, Geographic Information Systems Engineering and other A-level cartographic qualifications. EMG holds the National Class A Qualification Certificates in Navigable Surveying and Mapping, and actively developing self-driving and HD map services. In March 2021, Luokung completed the acquisition of EMG through the purchase of the stakes of Saleya Holdings Limited, which through a series of contracts between its wholly owned subsidiary DMG Infotech Co., Ltd. and EMG, created the EMG Luokung VIE. For more information, please visit the EMG website: www.emapgo.com.cn.

CAUTION 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 not statements of historical fact. In addition, any statement that refers to projections, forecasts or other characterizations of future events or circumstances, including any underlying assumptions, is a forward-looking statement. The words “anticipate”, “believe”, “continue”, “could”, “estimate”, “expect”, “intend”, “may”, “could”, “plan”, ” likely”, “potential”, “should”, “would” and similar expressions may identify forward-looking statements, but the absence of such words does not mean that a statement is not forward-looking.

The forward-looking statements contained in this press release are based on various assumptions, many of which are based, in turn, on other assumptions, including, without limitation, management’s review and analysis of 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 important uncertainties and contingencies which are difficult or impossible to predict and which are beyond our control, we cannot guarantee to you that the above statement will be accurate. Accordingly, you are cautioned not to rely on any forward-looking statements.

CONTACT:

The company:
Mr. Jay Yu
Financial director
Tel: +86-10-6506-5217
Email: [email protected]

Investor Relations:
M/s. Caroline Sohn
vice president
Equity Group Inc.
Tel: 415-568-2255
Email: [email protected]

M/s. Alice Zhang
Investor Relations Analyst
Equity Group Inc.
Tel: 212-836-9610
Email: [email protected]

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Source: Luokung Technology Corp.

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