Luokung Technology Corp LKCO

BEIJING, June 22, 2022 /PRNewswire/ -- Luokung Technology Corp. (NASDAQ: LKCO) ("Luokung," "we," "our" or "us"), 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 Beijing Hongdajiutong Technology Development Co., Ltd. ("HDtraffic"), a leading big data service provider for intelligent transportation and connected vehicles companies in China, has signed a strategic cooperation agreement with Yutraffic Technologies (Beijing) Co. Ltd ("Yutraffic"), a wholly-owned subsidiary of Siemens Mobility. Siemens Mobility is a separately managed company of Siemens AG, a global leader in electrification, automation and digitalization. Luokung plans to jointly develop and create systemic product-based solutions with Yutraffic and collaborate with Yutraffic on commercial projects and demonstration projects in the fields of transportation digitalization, Internet of Vehicles ("IoV") and autonomous driving.

Leveraging the international resources of Siemens Mobility, Yutraffic conducts business in China and is committed to providing mature, high-level and high-quality intelligent transportation solutions that meet the needs of the Chinese market. Siemens Mobility has extensive capabilities in traffic signal control, intelligent traffic management systems ("ITMS") and the vehicle-road collaboration ("V2X") field, providing road traffic solutions worldwide with a comprehensive portfolio of end-to-end intelligent traffic management solutions. According to Siemens Mobility, it is currently the only supplier in the world that complies with all major regional transport technology standards in the EU, the UK, Asia and the Americas.

Dr. Wang Chuanjiu, CEO of HDtraffic, stated, "We believe that this strategic cooperation between Yutraffic and HDtraffic will enable both parties to leverage their respective core competencies in areas such as autonomous driving, IoV and V2X. The cooperation will be based on Yutraffic's roadside technologies and road unit products, as well as its mature vehicle-to-infrastructure ("V2I") application stack supported by ITMS, and combined with HDtraffic's technologies in traffic digital twin, simulation decision-making, and V2X, as well as the unique advantages of vehicle-side data operation services. We look forward to working with Yutraffic on the joint development of product-level autonomous driving vehicle-road communication and IoV solutions, and to planning and implementing demonstration projects and related commercial projects."

Mr. Xuesong Song, Luokung's Chairman and CEO, stated, "Combining HDtraffic's superior vehicle-side intelligent big data services with Yutraffic's smart transportation solutions paves the way for future in-depth and multi-level cooperation. We are excited to partner with Yutraffic to build a portfolio of internationally advanced product-level solutions to serve intelligent, efficient and energy-saving urban transportation and intercity expressways."

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 multi-sourced intelligent spatial-temporal big data, Luokung has established city-level and industry-level holographic spatial-temporal digital twin systems and actively serves industries including smart transportation (autonomous driving, smart highway and vehicle-road collaboration), natural resource asset management (carbon neutral and environmental protection remote sensing data service), and LBS smart industry applications (mobile Internet LBS, smart travel, smart logistics, new infrastructure, smart cities, emergency rescue, among others). The Company routinely provides important updates on its website: https://www.luokung.com.

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: +86-10-6506-5217
Email: ir@luokung.com  

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SOURCE Luokung Technology Corp.