Luokung Subsidiary To Provide Autonomous Driving Simulation Testing Services For Geely

Luokung Technology Corp (NASDAQ: LKCO) subsidiary eMapGo Technology (Beijing) Co., Ltd (EMG), a navigation and electronic map services provider in China, has agreed to provide autonomous driving simulation testing services for Geely Automobile Holdings Ltd's (OTC: GELYF) (OTC: GELYY) Geely Automobile Research Institute (Ningbo) Co., Ltd.
EMG will provide data services for simulation tests of Geely's new mass-produced autonomous driving cars.
These tests aim to improve Geely's driving assistance system's safety performance and accelerate the mass production of Geely's advanced autonomous driving vehicles.
EMG will provide the initial phase of service for $2.5 million, with the first phase completion likely in Q3 2021.
Price action: LKCO shares traded higher by 8.67% at $1.88, and GELYY shares traded higher by 3.6% at $60.97 in the premarket session on the last check Thursday.

See more from Benzinga