Ford announced today a new technology called MyKey in which car owners will be able to control their vehicle’s speed, stereo volume, and seatbelt warning functions. MyKey will be standard on the 2010 Ford Focus Coupe and eventually be incorporated into the rest of the company’s lineup.

The technology is essentially aimed for parents wanting to control their children’s driving habits. Three things can be done with MyKey: limit a vehicle’s top speed to 80 miles per hour, set a stereo’s max volume to 44% of its normal limit, and set a sustaining warning chime if seat belts are not fastened.

According to a Ford survey, 67% of teenagers polled did not approve of the idea, although it dropped to 36% disapproval if the MyKey system led parents to allowing their kids to use the car more often.

MyKey uses some existing technology from Ford, particularly the SecuriLock anti-theft feature, to identify which keys are in the ignition and in turn letting the vehicle know which driving mode to engage.

Other MyKey features include setting warning sounds when the car approaches 45, 55, or 65 mph, and enabling a permanent traction control system. Ford is confident that this system will make their Ford Focus Coupe
a popular choice amongst parents with teenage drivers, at least until competitor companies start implementing the same idea.