Luokung and BAIC BJEV Partnered to Establish Mapping Services for Autonomous Driving

Luokung Technology Corp. (NASDAQ: LKCO) has led an interactive location-based services in China. It has announced eMapgo Technologies (Beijing) Co., Ltd. ("EMG") and Beijing New Energy Automobile Co., Ltd. (BAIC BluePark New Energy Technology Co., Ltd., Ticker: 600733.SH) ("BAIC BJEV") have decided to associate with the development of autonomous driving projects for BAIC BJEV's electric vehicles (EVs).

EMG already worked with BAIC BJEV and provided HD map services in autonomous valet parking ("AVP") for BAIC New Energy vehicles. The two companies will cooperate on L3 (conditional driving automation) to L4 (high driving automation) autonomous driving linked projects in-depth.

Darwin Lu, CEO of EMG, mentioned they are ultimately pleased to begin working with BAIC BJEV on projects. These projects leverage the HD Map capabilities with their manufacturing and brand awareness in China. This is all being done for the development of autonomous driving. This collaboration is framing a concrete future of the industry. It will encourage further actions in China's infrastructure in the future.

About EMG

EMG is a leading intelligent service such as SAIC Volkswagen, HD map services for Proof of Concept ("POC"), and production cars of Ford, FAW Hongqi, Geely, and other automakers in AVP and autonomous driving in China. The company is one of the earliest map makers and participated in automated driving simulation testing services. It has also been the leading participant in formulating various HD map standards in China. Besides, EMG developed the intelligent location service platform autonomously that provides services to a two-dimensional and three-dimensional integrated map engine and a spatial-temporal big-data digital base in the Internet of Things, Internet of Vehicles, and vehicle-road collaboration.

About BAIC BJEV

Beijing New Energy Automobile Co., Ltd. is a Beijing Automotive Group Co., Ltd. It is devoted to the production of new energy vehicles. It is a foremost enterprise in the domestic new energy vehicle industry and the largest in China's pure electric passenger vehicle industry.
As announced by Luokung, it has engaged in a share purchase agreement to obtain 100% of EMG. The two parties are present in the process of closing the transaction.

About Luokung Technology Corp.

Luokung Technology Corp. is one of the top spatial-temporal big-data processing technology companies globally. It leads interactive location-based services company in China. It offers integrated SaaS, DaaS, and PaaS services for the Internet and Internet of Things of Spatial-Temporal big data. Therefore, based on geographic information systems and intelligent Spatial-Temporal big data, it establishes city-level and industry-level digital twin holographic data models to serve intelligent transportation, smart cities, and intelligent industry vigorously.

Business Risks and Future Opinion

The news release of the collaboration contains forward-looking statements in Section 21E of the Securities Exchange Act of 1934. It is amended and defined in the U.S. as the Private Securities Litigation Reform Act of 1995. These statements can be acknowledged by terminology such as "will", “future", "anticipates", “plans", "intends",  "estimates", "going forward", and similar statements. These statements are based on management's prevailing expectations and current market and operating conditions. These also relate to events that involve all types of risks, uncertainties, and more factors. These are difficult to predict and are beyond the Company's control, which may cause the Company's real results, performance, or achievements.