NowAuto announced last Wednesday that wholly owned subsidiary Navicom has began manufacturing the new Navitraq V GPS unit which will be ready for shipping this summer.
The production, which is taking place here in the U.S., has been underway for at least a week.
The company's objective is to produce 1,500 units to be delivered in August. The company expects to sell 1,000 GPS units per month once launched.
Last month Navicom announced its alliance with OneTrack, a Dallas-based Telemetry products manufacturer as its strategic partner.
Navicom and OneTrack will develop the GPS unit (Navitraq V) as well as our EGPRS unit (Navitraq VI) and create the Navicom q network which will compete directly in the exploding Telemetry market.
The new Navicom GPS product will be unmatched in the GPS and Digital GSM market. The new product has the ability to track assets in 98% of Canada, Mexico and the United States.
The unit will also be able to perform a multitude of functions such as Geofencing, speed alert notification, panic alarm, starter disable and door lock/unlock capability.
"We believe that the new Navicom GPS and EGPRS units, combined with the state-of-the-art q network, are going to change the Telematics market. We decided to take a major leap forward and do what many successful companies have done, take a product in a growing market segment and make it better. Improve on what already exists and capitalize on it. The existing products and solutions have simply not met the growing need for Enterprise or Law Enforcement applications," said Keith Tench, President of Navicom.
Navicom has also continued to focus on other aspects of the GPS marketplace and has signed 3 new partnerships with access to over 10,000 dealership clients. This will greatly expand Navicom's access presence and further their goal of being the dominant GPS provider in the marketplace.
"Our applications not only offer solutions to auto dealerships but dealership software companies, personal, business, law enforcement, homeland security, and other solutions not yet thought of," said Scott Miller, CEO of Now Auto.
Navicom expects these 1500 units to retail at $599 each. This will not include the additional monthly backend revenue.
Copyright 2005 by Space Daily, Distributed by United Press International
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