BEIJING – 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 a cooperation agreement with Microsoft to launch autonomous driving services for automakers.
Under the terms of the agreement, EMG will work with Microsoft to provide auto manufacturers with services including the collection, storage, analysis, management and simulation testing of autonomous driving data, to assist automakers in the rapid implementation of autonomous driving technologies in China. EMG anticipates continuing to work with Microsoft to provide these data services when large-scale commercialization of autonomous driving takes place. Through this relationship, EMG and Microsoft plan to use their expertise in each of their respective fields to form a close cooperation that addresses the market opportunities presented by autonomous driving in China, creating an automobile industry solution designed for the Chinese market.
EMG has already obtained service contracts from a European car manufacturer and a U.S. car manufacturer. These contracts are expected to be implemented in the coming months.
Mr. Xuesong Song, Chairman and CEO, stated, “As the demand for flexible computing continues to expand, China’s autonomous driving data service market shows significant room for growth. We believe EMG’s core competencies in LBS and HD Maps are an ideal fit with Microsoft’s considerable advantages in areas of cutting-edge technology such as cloud computing, artificial intelligence, elastic computing, and mixed reality. We are pleased to deepen our existing relationship with Microsoft in this effort to promote the development of safe and intelligent autonomous driving in China.”
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 established city-level and industry-level holographic spatial-temporal digital twin systems and actively serves industries including autonomous driving, vehicle-road collaboration (V2X), smart transportation, smart travel, local business LBS, new infrastructure, smart cities, and smart industries (emergency, natural resources, environmental protection, water conservancy, energy, smart training, among others). The Company routinely provides important updates on its website: www.luokung.com/en.
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.
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