Luokung Affiliate eMapgo Provides Mapping Services for Ford Smart Vehicles

Rhea-AI Summary

Luokung Technology Corp. (NASDAQ: LKCO) announced that its affiliate eMapgo Technology will provide mapping services for Ford Motor Company's new vehicle models: the Ford EVOS and Mustang Mach-E. These models are equipped with Ford's BlueCruise active drive assist system, enabling L2 autonomous driving functionalities. The mapping services encompass the majority of highways and city expressways in China, utilizing over-the-air technology for updates. Luokung anticipates expanding its partnership with Ford as the collaboration showcases the quality of their advanced mapping services.

Positive

• eMapgo provides mapping services for Ford EVOS and Mustang Mach-E.
• Collaboration with a leading automaker like Ford enhances Luokung's reputation.
• Utilization of over-the-air technology ensures up-to-date mapping reliability.

Negative

• None.

BEIJING, Feb. 23, 2022 /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 ("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 begun providing mapping services for two new Ford Motor Company ("Ford") vehicle models—the Ford EVOS and Mustang Mach-E—both of which are equipped with Ford's BlueCruise active drive assist system ("BlueCruise"). The Ford EVOS is an upper midsize SUV, and the Mustang Mach-E is Ford's first all-electric SUV. Both vehicle models are sold in the Chinese market. EMG is currently providing mapping services for BlueCruise installed on these two vehicle models.

BlueCruise supports L2 autonomous driving function as defined by SAE International. When activated, the system automatically determines whether the vehicle can operate the BlueCruise system under current road conditions, and notifies drivers on the vehicles' instrument panel. The driver status monitoring system then starts monitoring drivers' observation of traffic in real time and provides warnings and alarms when necessary. BlueCruise also integrates full-speed adaptive cruise (with stop and go automatic follow-up function) and lane centering assistance, as well as acceleration, deceleration and steering control as part of its active driving assistance, to help relieve the stress of long drives and improve driving safety.

EMG's mapping services for the Ford BlueCruise system cover the majority of highways and city expressways in mainland China and utilize over-the-air ("OTA") technology to perform updates to provide technical reliability support for BlueCruise.

Mr. Xuesong Song, Luokung's Chairman and CEO, stated, "We are excited that EMG's mapping services are being integrated into the BlueCruise system on two of Ford's new smart vehicle models. Ford is a leading international automaker known for its excellence in providing high-quality and innovative vehicles to its customers, and we believe their use of EMG's mapping services validates the quality and advanced capabilities of our product. We look forward to expanding upon this partnership with Ford and exploring other opportunities with top automakers looking to strengthen their assisted driving technologies."

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 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.

ABOUT EMAPGO

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.  

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

Investor Relations:
Ms. Carolyne Sohn
Vice President
The Equity Group Inc.
Tel: 415-568-2255
Email: csohn@equityny.com

View original content:https://www.prnewswire.com/news-releases/luokung-affiliate-emapgo-provides-mapping-services-for-ford-smart-vehicles-301488045.html

SOURCE Luokung Technology Corp.

FAQ

What services is Luokung providing for Ford's new vehicles?

Luokung, through its affiliate eMapgo, is providing mapping services for Ford's EVOS and Mustang Mach-E equipped with the BlueCruise system.

What is the significance of the partnership between Luokung and Ford?

The partnership highlights Luokung's advanced mapping capabilities and strengthens its market position as a provider of location-based services.

What is BlueCruise and its role in Ford vehicles?

BlueCruise is Ford's active drive assist system that supports L2 autonomous driving, enhancing safety and comfort during driving.

How does Luokung's mapping support Ford's BlueCruise system?

Luokung's mapping covers most highways and expressways in China and uses OTA technology for reliable updates.

What are the potential future opportunities for Luokung with Ford?

Luokung aims to expand its partnership with Ford and explore opportunities with other automakers to enhance assisted driving technologies.