Luokung Announces Subsidiary eMapgo's Contract Win for New Generation Traffic Control Network and Smart Highway Demonstration Project
Luokung Technology Corp. (NASDAQ: LKCO) announced that its subsidiary, eMapgo Technologies, has secured a contract for the Changjiu Expressway smart highway project in Jiangxi Province, China. This project will involve the development of a 3D digital management system, enhancing traffic control and supporting smart transportation features such as lane navigation and V2X technology. The CEO expressed confidence that this project will positively impact the company's future business prospects in smart transportation.
- Contract win for smart highway project in Jiangxi Province, enhancing business prospects.
- Development of a 3D digital management system that supports lane navigation and V2X technology.
- None.
BEIJING, June 18, 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 HD Maps in China, today announced that its wholly owned subsidiary eMapgo Technologies (Beijing) Co., Ltd. ("EMG"), a leading provider of navigation and electronic map services in China, has entered into a contract to deliver a new generation traffic control network and smart highway demonstration project for the Changjiu Expressway in the Jiangxi Province of China.
According to the terms of the contract, EMG will be responsible for the development and implementation of a 3D real-life highway digital management system for the new generation smart highway demonstration project for the Changjiu Expressway. A digital management system will provide real-time road information and intelligent operation management to support the latest smart transportation, such as lane navigation, autonomous driving, road coordination and vehicle-road collaboration ("V2X"), while increasing safety and decreasing congestion for improved road maintenance and management.
Luokung's smart transportation business includes both car-terminal service and road-terminal service, providing autopilot HD Map data services for car manufacturers and developing smart road digital services.
Mr. Xuesong Song, Chairman and CEO, stated, "We are excited about EMG's selection as the provider for this innovative smart highway project in Jiangxi, which we believe is a testament to our leading position in Spatial-Temporal data processing technology and high-precision map data service capabilities. This is a new generation traffic control network and smart highway demonstration project, and Changjiu Expressway would be China's first highway that is based on this new intelligent management system, which supports road coordination and a V2X operating system. We are confident that EMG's work on this project will have a positive impact on the Company's future business prospects in smart transportation."
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, etc.).
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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
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SOURCE Luokung Technology Corp.
FAQ
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