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News and Events Jun 22, 2022

Luokung Affiliate HDtraffic Announces Long-term Cooperation with Siemens Mobility Subsidiary

Luokung Technology Corp. (NASDAQ: LKCO) (“Luokung,” “we,” “our” or “us”), a leading spatial-temporal intelligent big data services company and provider of interactive location-based services (“LBS”) and high-definition maps (“HD Maps”) in China, today announced that its operating affiliate Beijing Hongdajiutong Technology Development Co., Ltd. (“HDtraffic”), a leading big data service provider for intelligent transportation and connected vehicles companies in China, has signed a strategic cooperation agreement with Yutraffic Technologies (Beijing) Co. Ltd (“Yutraffic”), a wholly-owned subsidiary of Siemens Mobility. Siemens Mobility is a separately managed company of Siemens AG, a global leader in electrification, automation and digitalization. Luokung plans to jointly develop and create systemic product-based solutions with Yutraffic and collaborate with Yutraffic on commercial projects and demonstration projects in the fields of transportation digitalization, Internet of Vehicles (“IoV”) and autonomous driving.

Leveraging the international resources of Siemens Mobility, Yutraffic conducts business in China and is committed to providing mature, high-level and high-quality intelligent transportation solutions that meet the needs of the Chinese market. Siemens Mobility has extensive capabilities in traffic signal control, intelligent traffic management systems (“ITMS”) and the vehicle-road collaboration (“V2X”) field, providing road traffic solutions worldwide with a comprehensive portfolio of end-to-end intelligent traffic management solutions. According to Siemens Mobility, it is currently the only supplier in the world that complies with all major regional transport technology standards in the EU, the UK, Asia and the Americas.

Dr. Wang Chuanjiu, CEO of HDtraffic, stated, “We believe that this strategic cooperation between Yutraffic and HDtraffic will enable both parties to leverage their respective core competencies in areas such as autonomous driving, IoV and V2X. The cooperation will be based on Yutraffic’s roadside technologies and road unit products, as well as its mature vehicle-to-infrastructure (“V2I”) application stack supported by ITMS, and combined with HDtraffic’s technologies in traffic digital twin, simulation decision-making, and V2X, as well as the unique advantages of vehicle-side data operation services. We look forward to working with Yutraffic on the joint development of product-level autonomous driving vehicle-road communication and IoV solutions, and to planning and implementing demonstration projects and related commercial projects.”

Mr. Xuesong Song, Luokung’s Chairman and CEO, stated, “Combining HDtraffic’s superior vehicle-side intelligent big data services with Yutraffic’s smart transportation solutions paves the way for future in-depth and multi-level cooperation. We are excited to partner with Yutraffic to build a portfolio of internationally advanced product-level solutions to serve intelligent, efficient and energy-saving urban transportation and intercity expressways.”