The Woodcliff Lake-based wireless machine-to-machine solutions said in a news release that it would be providing wireless in-vehicle management technology for 50,000 of the Parsippany-based rental company’s cars and trucks under the first phase of the agreement.
“This new agreement builds on our longstanding and successful technology collaboration with Avis Budget,” I.D. Systems CEO Chris Wolfe said in a prepared statement. “We believe our patented, next-generation solution will truly revolutionize the car rental industry and, with a global leader like Avis as our partner, we now have a unique opportunity to realize this vision.”
Under the agreement, I.D. Systems received an undisclosed upfront payment that it will use toward development of system enhancements and increased production, with the goal of delivering more than 2,500 units per week starting in the fourth quarter. Avis Budget has an option to expand deployment of the systems across its entire global fleet.
“We believe Avis Now represents the future of car rental, and we’re excited to continue and expand on our partnership with I.D. Systems,” Avis Chief Information Officer Gerard Insall said in a statement. “Our ‘connected cars’ allow us to vastly improve our customers’ rental experience by giving our customers more virtual control and choice of their vehicle using their mobile phone. We also improve their vehicle return experience by automating the check-in process.”
The agreement also contains a limited, potentially extendable term of exclusivity.