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Luokung Technology Corp (NASDAQ: LKCO) Initials Autonomous-Driving Records Facilities Agreements

Luokung Technology Corp (NASDAQ: LKCO) today announced the ratification of a selected facility agreement for autonomous driving data gathering and data administration in China with one of the world’s top automobile companies.

Services to be implemented by the company’s subsidiary

Luokung’s wholly-owned subsidiary eMapgo Technologies (Beijing) Co., Ltd., has initiated executing these amenities and anticipates having a long-term part as this client’s autonomous-driving statistics facility supplier.

EMG has also been affianced by a distinct global auto parts provider headquartered in Europe to be its selected service provider for independent driving imitation analysis and data organization platform schemes.

EMG will be accountable for carrying out a share of the autonomous-driving imitation analysis, data gathering and administration, and certain connected facilities. In tallying to the project service execution agreements, Luokung is also working diligently with this client on future ingenuities.

Xuesong Song, Chairman, and CEO quantified, “We have positioned a premium on nurturing new facility associations with numerous car makers globally as the complete business endures to drive new autonomous-vehicle abilities.”

Company’s Acquisition Element Model approved for official release

In other news, the company announced that the Acquisition Element Model and Exchange Format standard has passed the scheme sanction and appraisal procedure by the China Society of Automotive Engineering Standards (CSAE) and was accepted for the authorized announcement.

It is the first distributed business stock for the Highly Automated Driving Map creation business in China. It delivers a unified set of standards for developing the Highly Automated Driving Map and defines and standardizes Highly Automated Driving Map purchase rudiments. It also sets the basis for upcoming intellectual and linked vehicles Highly Automated Driving Map interchange arrangements and mapping- and positioning-related standard schemes for a unified and intelligent network.

The standard, whose advance was led by EMG over the sequence of 16 months, was mutually accomplished by more than 20 companies, counting map producers, hardware and software producers in the arena of independent driving, and vehicle companies.

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