Luokung Technology Corp. (NASDAQ: LKCO) stock gains by 14.10% in the current market trading session. Luokung Technology Corp. is a significant provider of LBS and HD Maps for various manufacturing sectors in China, as well as a largest provider of spatial-temporal intelligent big data services.
LKCO stock Current Development
Luokung Technology Corp. stated that its operating affiliate eMapgo Technology (Beijing), a leading supplier of navigation and electronic map services in China, has struck a partnership deal with Microsoft to develop autonomous driving services for manufacturers.
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EMG will collaborate with Microsoft with the purpose of providing automakers with services such as data gathering, storage, analysis, management, and simulation testing of autonomous driving data, in order to help and assist automakers implement autonomous driving technology more quickly in China.
When large-scale commercialization of autonomous driving occurs, EMG expects to continue working with Microsoft to supply these data services. EMG and Microsoft intend to combine their respective experience in each of their domains to build a close partnership that meets the market prospects given by autonomous driving in China, resulting in an automobile industry solution tailored to the Chinese market. A European car maker and a US car manufacturer have previously signed service contracts with EMG. These agreements should go into effect in the following months.
Mr. Xuesong Song, Chairman, and CEO commented,
China’s autonomous driving data service industry has a lot of space for progress as the need for flexible computing continues to grow. EMG’s core skills in LBS and HD Maps, they feel, are a perfect match for Microsoft’s significant advantages in cutting-edge technological areas including cloud computing, artificial intelligence, elastic computing, and mixed reality. In this attempt to support and help the growth of safe and intelligent autonomous driving in China, they are glad to strengthen their current collaboration with Microsoft.