Google said Android will automatically be able to send your location data, based on Wi-Fi, GPS, and cell tower information, to emergency services when you call. Google also confirmed that this location data would never be seen by Google or anyone else. The one issue is that the feature needs to be supported by carriers in order to work and the initial group of carrier support comes from Europe, specifically with carriers in the UK and Estonia, where Emergency Location Service is supported.
There's no word on the U.S. where the technology is called Enhanced 911 (E911). All of the major U.S. carriers support E911 (though some charge for it), but the bigger hurdle in the U.S. is that emergency service call centers haven't been upgraded in many areas to be able to handle location information.
We'll keep an eye on it and update when we know more.