BEIJING, Feb. 11, 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, announced today that Ford Motor Corporation (NYSE: F) has selected Luokung’s subsidiary eMapgo Technologies (Beijing) Co., Ltd. (“EMG”) as the only provider for Ford China so far to utilize its proprietary autonomous driving HD map service capabilities to be used in Ford vehicles sold in the Chinese market. EMG will receive a fee for each car sold using its technology and service.
EMG will support Ford’s Connected Blue Zone (hereinafter referred to as CBZ) autonomous driving project. The CBZ is the first autonomous driving commercial project of Ford in China. It is SAE-Level 2.5+, allowing autonomous driving on the highway. The project is expected to be launched in 2021. EMG will not only provide HD seed map for CBZ, but also provide online incremental data updates through OTA technology, providing real-time mapping technology and strong support for the Adaptive Cruise Control (ACC) system, CBZ Blue Line retention system, driver attention retention system, etc. EMG’s technology enhances the driving experience by allowing drivers to operate vehicles autonomously by providing data on the optimal routes for a drive to reach his destination.
“We are pleased that a global leading automaker in autonomous driving has selected our technology and service as a key component of the autonomous driving experience,” said by Mr. Hongbin Lu, the CEO of EMG. “The market in China is enormous and we are excited to work with Ford as it positions itself to capitalize as an early entrant in this rapidly growing market.”
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.
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.
SOURCE Luokung Technology Corp.
