Luokung Signs Agreement for Its First Smart Connected Autonomous Driving Vehicles and Ships Project, Marking Its Entry into Smart Shipping and Land Transportation Market – PR Newswire | Region & Cash

BEIJING, July 25, 2022 /PRNewswire/ — Luokung Technology Corp. (NASDAQ: LKCO) (“Luokung” or the “Company”)a leading spatiotemporal intelligent big data services company and provider of interactive location-based services (“LBS”) and high-definition maps (“HD maps”) in Chinaannounced today that it has signed an agreement with the Jiujiang District Government in Wuhu City Anhui Province for a project for autonomous driving of vehicles/ships based on intelligent networking. Hongdajiutong Technology Development Co.,Ltd. (HDtraffic”), a subsidiary of Luokung, is providing full implementation and commercial promotion of the project, which represents a significant first step in the company’s active expansion into the new intelligent shipping and land transportation market that is expected to emerge ongoing revenue for the company generates society.

This major project has received multi-million RMB funding from the government. Under the terms of the agreement, Luokung will carry out the research and development of autonomous driving and driving assistance systems, including hardware and software, for intelligent connectivity technology of road vehicles and ships, support the application of autonomous marine systems, and aim for the first open road autonomous truck operation project implement domestically China. In this project, based on the unique geographical advantages of Wuhu as a national integrated transportation hub with ports on the Yangtze River, an integrated ship-vehicle cloud digital twin model will be built to open up a new intelligent connected business scenario.

Mister. Xuesong songChairman and CEO, stated, “We are delighted to be collaborating with the Jiujiang County Government on this monumental autonomous driving project. We believe that this project is just the beginning of intelligent network technology applications in autonomous driving and dispatching scenarios. Luokung has signed a long-term cooperation agreement with the local government and is actively involved in commercial implementation based on local business-related scenarios. The results obtained from this project will be used to form a mature commercialized business model that has the potential for expansion to the national market has the future.”

About Luokung Technology Corp.

Luokung Technology Corp. is a leading spatiotemporal 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 intelligent multi-source spatiotemporal big data, Luokung has established holographic spatiotemporal digital twin systems at city and industry levels, and is actively serving industries such as smart transportation (autonomous driving, smart highway and vehicle-road collaboration), natural resource management (remote sensing data service for carbon neutrality and environmental protection), and intelligent LBS industrial applications (mobile Internet LBS, intelligent travel, intelligent logistics, new infrastructure, intelligent cities, emergency rescue, among others ). The company regularly provides important updates on its website: https://www.luokung.com.

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CONTACT:

The company:
Mister. Jay Yu
CFO
Phone: +86-10-6506-5217
E-mail: [email protected]

Investor Relations:
MS. Caroline son
Vice President
The Equity Group Inc.
Tel: 415-568-2255
E-mail:[email protected]

MS. Alice Zhang
Investor Relations Analyst
The Equity Group Inc.
Phone: 212-836-9610
E-mail: [email protected]

SOURCE Luokung Technology Corp.

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