Benzinga | Jun 18, 2021 09:13AM EDT

Luokung Technology's eMapgo Subsidiary Bags Changjiu Expressway's Smart Highway Demonstration Project

* Spatial-Temporal intelligent big data services company Luokung Technology Corp's (NASDAQ:LKCO) subsidiary eMapgo Technologies (Beijing) Co., Ltd. (EMG), a provider of navigation and electronic map services in China, struck a deal for a new generation traffic control network and innovative highway demonstration project for the Changjiu Expressway in the Jiangxi Province of China.

* The financial terms of the contract remain undisclosed.

* EMG will develop and implement a 3D real-life highway digital management system for the mart highway demonstration project for the Changjiu Expressway.

* A digital management system will offer real-time road information and intelligent operation management to support lane navigation, autonomous driving, road coordination, and vehicle-road collaboration (V2X) while increasing safety and decreasing congestion.

* Price action: LKCO shares traded higher by 3.61% at $2.01 in the premarket session on the last check Friday.