I.D. Systems, Inc. (NASDAQ:IDSY), a leading provider of enterprise asset management technology, announced today that Toyota Motor North America Service Parts and Accessories Operations (Toyota) group has agreed to purchase its Powerfleet® industrial vehicle management solution for 11 parts distribution centers throughout the U.S. Initial DC deployment plans have been finalized with remaining DC’s to roll out in 2018. The agreement continues the established relationship between Toyota and I.D Systems, building on prior generation solutions used to manage and control forklifts in Toyota’s manufacturing operations.
I.D. Systems’ patented Powerfleet® Vehicle Management Systems (VMS) helps improve supply chain safety and productivity by restricting vehicle access to only trained and authorized operators, providing electronic vehicle inspection checklists, and sensing and reporting vehicle impacts. In addition, Powerfleet® reduces fleet maintenance costs by automatically uploading vehicle operational data, reporting equipment problems, scheduling maintenance based on actual vehicle usage rather than by calendar or manual data entry, and helping determine the optimal economic time to replace equipment.
“I.D. Systems is proud that Toyota’s Service Parts and Accessories Operations group has chosen Powerfleet once again to help ensure safe and efficient operations in their warehousing operations,” said Chris Wolfe, CEO of I.D. Systems. “We’ve been supporting Toyota for many years now, and we continue to deliver innovative and reliable solutions for other similar top manufacturing operations so they can remain safe, deliver operational excellence and drive productivity improvements.”
Michael Mark, Manager of Environmental, Health, & Safety at Toyota added, “After reviewing industrial vehicle management solutions based on our selection criteria, we selected I.D. Systems’ Powerfleet as we found it to be a robust, comprehensive product that fit our business unit and specific needs.”
About I.D. Systems
Headquartered in Woodcliff Lake, New Jersey, with subsidiaries in Texas, Germany, and the United Kingdom, I.D. Systems is a leading global provider of wireless M2M solutions for securing, controlling, tracking, and managing high-value enterprise assets, including rental cars, industrial vehicles, trailers, containers, and cargo. The Company’s patented technologies address the needs of organizations to monitor and analyze their assets to increase efficiency and productivity, reduce costs, and improve profitability. For more information, please visit www.powerfleet.com.
Toyota (NYSE:TM), creator of the Prius hybrid and the Mirai fuel cell vehicle, is committed to building vehicles for the way people live through our Toyota and Lexus brands. Over the past 60 years, we’ve built more than 30 million cars and trucks in North America, where we operate 14 manufacturing plants (10 in the U.S.) and directly employ more than 44,000 people (more than 34,000 in the U.S.). Our 1,800 North American dealerships (nearly 1,500 in the U.S.) sold nearly 2.6 million cars and trucks (2.45 million in the U.S.) in 2016 – and about 85 percent of all Toyota vehicles sold over the past 15 years are still on the road today.
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This press release contains forward-looking statements within the meaning of federal securities laws. Forward-looking statements include statements with respect to I.D. Systems’ beliefs, plans, goals, objectives, expectations, anticipations, assumptions, estimates, intentions, and future performance, and involve known and unknown risks, uncertainties and other factors, which may be beyond I.D. Systems’ control, and which may cause its actual results, performance or achievements to be materially different from future results, performance or achievements expressed or implied by such forward-looking statements. All statements other than statements of historical fact are statements that could be forward-looking statements. For example, forward-looking statements include statements regarding: prospects for additional customers; potential contract values; market forecasts; projections of earnings, revenues, synergies, accretion or other financial information; emerging new products; and plans, strategies and objectives of management for future operations, including growing revenue, controlling operating costs, increasing production volumes, and expanding business with core customers. The risks and uncertainties referred to above include, but are not limited to, future economic and business conditions, the loss of key customers or reduction in the purchase of products by any such customers, the failure of the market for I.D. Systems’ products to continue to develop, the possibility that I.D. Systems may not be able to integrate successfully the business, operations and employees of acquired businesses, the inability to protect I.D. Systems’ intellectual property, the inability to manage growth, the effects of competition from a variety of local, regional, national and other providers of wireless solutions, and other risks detailed from time to time in I.D. Systems’ filings with the Securities and Exchange Commission, including its annual report on Form 10-K for the year ended December 31, 2016. These risks could cause actual results to differ materially from those expressed in any forward-looking statements made by, or on behalf of, I.D. Systems. Unless otherwise required by applicable law, I.D. Systems assumes no obligation to update the information contained in this press release, and expressly disclaims any obligation to do so, whether a result of new information, future events, or otherwise.