EMG Enters into Strategic Partnership with One of the World's Leading Automotive Technology Company Continental AG
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.