LoJack Announces Next Generation Self-Powered Stolen Vehicle Recovery System
System Facilitates Effective Vehicle Energy Management and Provides Proven Theft Protection for Cars of Today and the Future, Including Hybrid and Electric Vehicles
WESTWOOD, Mass., Oct. 26 /PRNewswire-FirstCall/ -- LoJack Corporation (NASDAQ:LOJN), the company that invented and leads the Stolen Vehicle Recovery category, today introduced its next generation Stolen Vehicle Recovery System based on a newly developed proprietary power management protocol. This self-powered Stolen Vehicle Recovery System does not draw any power from a vehicle's battery or electrical system, which makes it ideally suited for the vehicles of today and the future, including hybrid and electric cars.
The next generation Stolen Vehicle Recovery System answers the needs of Original Equipment Manufacturers (OEMs) that are seeking to implement intelligent power management systems in new cars. With the growing number of features and devices installed and utilized in today's vehicles, there is an increasing need to reduce the draw on a vehicle's battery to enable maximum vehicle performance and efficiency.
President Barack Obama has called for a million plug-in hybrids and electric vehicles to be on United States roadways by 2015 and this system delivers an energy efficient and proven theft recovery solution for these types of vehicles.
"As we looked to the future of the automotive market and held discussions with OEMs and our international licensees, it was clear that there was a need for a new generation of aftermarket products that are self-powered and optimized for newer vehicles," said Ronald V. Waters, LoJack Corporation's President and Chief Executive Officer. "This new Stolen Vehicle Recovery System directly answers that market demand and places LoJack in a strong position moving forward for the automotive market. As we continue to diversify our business, the new power management protocol will have beneficial applications in future versions of all LoJack products."
Provides Benefits for All Vehicles -- Including Hybrids, Electric and Collector Cars
More than one third of all vehicle breakdowns are due to electrical failures caused by too much dependence on the battery. Unlike GPS-based aftermarket products that draw power from a vehicle's electrical system, the self powered LoJack solution helps retain battery power. It is especially ideal for hybrids and electric vehicles where maintaining battery power is so essential. And, by eliminating the draw on the vehicle battery, it is optimized for collector cars as well because there is no need to connect to the electrical system, which can be a complicated and disruptive process in customized collector vehicles.
System Increases Installation Flexibility and Enhances Covertness
Since the new system does not have to be connected to the vehicle's electrical system, it provides efficiencies in the installation process and increases the number of locations inside the vehicle where the unit may be hidden -- which is especially critical for the company's licensees in markets where the theft problem is particularly severe. Being even more covert also will help ensure that LoJack's Stolen Vehicle Recovery System -- with its national recovery rate of 90 percent -- remains the industry leader moving forward.
The next generation Stolen Vehicle Recovery System will be available for distribution through the company's international licensees in the fourth quarter of this year and rolled out in the United States beginning in the first quarter of 2010.
About LoJack Corporation
LoJack Corporation, the company that invented the stolen vehicle recovery market more than two decades ago, is the global leader in finding and recovering a wide range of mobile assets including cars, construction equipment and motorcycles -- having recovered more than $5 billion USD in stolen assets worldwide. In today's rapidly changing world, LoJack's core competencies are more valuable and more relevant than ever as they are now being applied into new areas, such as the prevention, detection and recovery of stolen cargo and finding and rescuing people with cognitive disorders such as Alzheimer's and autism. LoJack has the proven processes, ultimate technology for recovery -- Radio Frequency -- and unique integration with law enforcement agencies, making its offerings the most effective solutions that not only deliver a wide range of recoveries, but also enhance the safety of the public on a global level. LoJack's Stolen Vehicle Recovery System operates in 27 states and the District of Columbia, and in more than 30 countries throughout North America, South America, Europe, Africa and Asia. For more information, visit www.lojack.com.