Appears out of a James Bond movie, or actually the recent Fast and Furious movie, but this is experimental technology being tried by St. Petersburg, FL in my neighborhood (in video below), and several others. It is “pursuit reduction” technology that contains a miniature GPS module encased in a tracking projectile/tag and a launcher mounted on a police vehicle.
As the company says
“There are more than 100,000 high-speed pursuits in the U.S. every year, endangering everyone involved in the chase - the suspects, the police and the public. And it's an unnecessary danger; up to 85 percent of these pursuits are initiated by non-violent offenders. Plus, the economic impact is staggering, with hundreds of millions paid out in the U.S. annually due to insurance payouts, medical bills, workers' compensation and lost wages.”