LEO Put Anti-Theft Tracking Devices on Vehicles
As part of the $2.7 million deal, Nasdaq-listed Ituran will provide LEO with 20,000 units of its GPS tracking device as well as retrieval services in case a vehicle is stolen.
Israel-based scooter sharing service LEO will install anti-theft devices by Nasdaq-listed company Ituran Location and Control Ltd. on of its e-scooters, LEO announced Tuesday.As part of the NIS 10 million (approximately $2.7 million) deal, Ituran will provide LEO with 20,000 units of its GPS tracking device as well as retrieval services in case a vehicle is stolen.
A LEO e-scooter. Photo: Allenby Concept House
Operated by Israel-based electric scooter brand Inokim, LEO’s service has recently been soft-launched in Tel Aviv and an official launch is scheduled for later this month. According to its statement, LEO intends to expand the service to additional locations in Israel, including Haifa in Israel’s north and Red Sea resort town Eilat. LEO is also planning to start operating outside of Israel, the company said.
Unlike scooter-sharing services already available in Tel Aviv and neighboring suburbs, LEO will operate on a 24-7 basis, including nights, weekends, and holidays. In accordance with Israeli traffic regulations, LEO’s scooters will come equipped with helmets and users will be able to order high visibility vests to their homes using the company’s app.