Luokung Technology Corp. (NASDAQ:LKCO) looked Monday to maintain significant upward momentum.
Luokung Technology shares jumped 22% on Friday after the company announced its subsidiary eMapgo entered into a contract to deliver a new generation traffic control network and smart highway demonstration project for the Changjiu Expressway.
According to the terms of the contract, EMG will be responsible for the development and implementation of a 3D real-life highway digital management system for the new generation smart highway demonstration project for the Changjiu Expressway.
A digital management system will provide real-time road information and intelligent operation management to support the latest smart transportation, such as lane navigation, autonomous driving, road coordination and vehicle-road collaboration, while increasing safety and decreasing congestion for improved road maintenance and management.
Luokung’s smart transportation business includes both car-terminal service and road-terminal service, providing autopilot HD Map data services for car manufacturers and developing smart road digital services.
Xuesong Song , Chairman and CEO, stated, “We are excited about EMG’s selection as the provider for this innovative smart highway project in Jiangxi , which we believe is a testament to our leading position in Spatial-Temporal data processing technology and high-precision map data service capabilities.”
LKCO shares sprang up 34 cents, or 14.3%, to $2.71.