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Luokung Signs Autonomous-Driving Data Services Contracts with Leading Global Auto Manufacturer and Auto Parts Supplier

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BEIJING, June 28, 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 and High Definition maps ("HD Maps") in China, today announced the signing of a designated service contract for autonomous-driving data collection and data management in China with one of the world's top auto manufacturers.

Luokung's wholly-owned subsidiary eMapgo Technologies (Beijing) Co., Ltd. ("EMG") has begun implementing these services and hopes to have a long-term role as this customer's autonomous-driving data service provider.

EMG has also been engaged by a separate international auto parts supplier headquartered in Europe to be its designated service provider for autonomous-driving simulation testing and data management platform projects. EMG will be responsible for carrying out a portion of the autonomous-driving simulation testing, data collection and management and certain related services. In addition to the project service implementation contracts, Luokung is also working closely with this customer on future initiatives.

Mr. Xuesong Song, Chairman and CEO, stated, "We have placed a premium on cultivating new service relationships with multiple automobile manufacturers globally as the entire industry continues to drive new autonomous-vehicle capabilities. We feel that these recent service contract signings are reflective of our standing within this market, and we are very pleased to be partnering with another reputable and influential company within the auto industry. We believe these partnerships validate the strength of Luokung's technology advantages and confirm our position as a preferred provider for data services in China in fields such as autonomous driving."

About Luokung Technology Corp.

Luokung Technology Corp. is a leading Spatial-Temporal intelligent big data services company, as well as a leading provider of location-based services (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).

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:
Adam Prior
Senior Vice President
The Equity Group Inc.
Tel: 212-836-9606
Email: aprior@equityny.com

Cision
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View original content:https://www.prnewswire.com/news-releases/luokung-signs-autonomous-driving-data-services-contracts-with-leading-global-auto-manufacturer-and-auto-parts-supplier-301320685.html

SOURCE Luokung Technology Corp.