Luokung provides mobile Internet LBS information, social and business services for BYD Auto

Rhea-AI Summary

Luokung Technology Corp. (NASDAQ: LKCO) has partnered with BYD Auto to deliver location-based information and marketing services, enhancing user experience for BYD car users. The collaboration leverages BYD's DiLink intelligent connected system, which integrates AI and big data to provide tailored mobile services. Luokung will develop and operate these services using its advanced mapping technology. This partnership aims to improve location-based interactions for users, offering personalized content for various travel scenarios.

Positive

• Partnership with BYD Auto enhances growth opportunities in location-based services.
• Utilization of Luokung's advanced mapping technology to improve user experience.
• Integration of AI and big data could lead to innovative service offerings.

Negative

• None.

BEIJING, July 8, 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 it has established business partnership with BYD Auto Industry Co., Ltd. ("BYD" ticker: 01211.HK, SZ.002594), Luokung to provide location-based information and commercial marketing services for BYD, which offers BYD car users with more intelligent, accurate, safe, convenient and personalized mobile internet local location business services to improve the user experience of intelligent and connected.

DiLink intelligent connected system is BYD's self-developed technology + content service ecosystem based on intelligent hardware, in-car network, cloud communication, information fusion, AI, big data, other technologies and user insights. DiLink intelligent connected system comprises of Di Platform, Di Cloud, Di Ecology and Di Open, which is designed to fully connect people-car-life-society and provides car users with a new intelligent travel experience.

Relying on BYD Auto's DiLink platform, Luokung provides mobile Internet location-based information and commercial marketing services to BYD car users, and Luokung is fully responsible for the technical development and operation of the services. The product is fully supported by Luokung's open map platform. Base on the strength of Luokung's full vector non-tiled map technology, the services significantly enhance the location-based interactive experience for car users, enable them to discover valuable information around them, and aided by integrated AI technology to perfectly match the location and related contents with its spatial-temporal information. In different scenarios, such as self-guided road trips, fleet travels, city visits, and daily commutes, etc., contents are personalized and accurately pushed to meet the user's local service interaction needs, which delivers a more precise, safe, convenient and personalized on-car location based service.

About BYD AUTO

BYD AUTO (ticker: 01211.HK, SZ.002594), a high-tech enterprise with three major industrial clusters of IT, automobile and new energy. It is committed to "use technological innovation to satisfy people's yearning for a better life." BYD Auto, a leader in new energy vehicles, has ranked first in sales of new energy vehicles in China for 6 consecutive years.

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. It provides integrated DaaS, SaaS, and PaaS services for Internet and Internet of Things of Spatial-Temporal big data based on its patented technology. Based on geographic information systems and intelligent Spatial-Temporal big data, it establishes city-level and industry-level digital twin holographic data models to actively serve smart cities, intelligent transportation, smart industry, LBS. 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.

CONTACT:

The Company:
Mr. Jay Yu 
Chief Financial Officer
Tel: +86-10-5327-4727
Email: ir@luokung.com

INVESTOR RELATIONS
PureRock Communications Limited
Email: luokung@pure-rock.com

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SOURCE Luokung Technology Corp.

FAQ

What does Luokung Technology Corp. (LKCO) do with BYD Auto?

Luokung partners with BYD Auto to provide location-based information and marketing services for BYD car users.

How will Luokung's services improve user experience for BYD car users?

The services will enhance user experience by offering personalized and accurate location-based services using AI and big data.

What technologies are involved in Luokung's partnership with BYD Auto?

The partnership utilizes Luokung’s mapping technology and BYD's DiLink intelligent connected system.

When was the partnership between Luokung and BYD Auto announced?

The partnership was announced on July 8, 2020.

What is the stock symbol for Luokung Technology Corp.?

The stock symbol for Luokung Technology Corp. is LKCO.