I intend to do this.
I also plan on giving my kids cell phones when they're old enough (School age, is my current assumption), and will ask them to share their locations with me.
However, To say that parents have no right to infringe on the privacy or personal autonomy of their children is incorrect.
I'm legally responsible for the well being of my kids. I'm legally required to ensure my child is safe at all times. This can involve leaving my child with another guardian, but for various reasons I'm not about to trust the school.
I can be sent to prison for a maximum of 2 years and fined $50,000 if I break these laws. Being absent from my children's lives for 2 years would damage their development.
I can present all this information to my children and ask them to decide if they want me to know where they are at all times. You could make the argument that they're not mature enough to give me that permission.