Info
Info

Volvo Cars to implement Blockchain Traceability of Cobalt used in EV Batteries

News

Volvo Cars will become the first car maker to implement global traceability of cobalt used in its batteries by applying blockchain technology.

Info

The announcement follows the reveal last month of the company's first fully electric car, the XC40 Recharge.

Traceability of raw materials used in the production of lithium-ion batteries, such as cobalt, is one of the main sustainability challenges faced by car makers. Volvo Cars is committed to full traceability, ensuring that customers can drive electrified Volvos knowing the material for the batteries has been sourced responsibly. Blockchain technology, which establishes a transparent and reliable shared data network, significantly boosts transparency of the raw material supply chain because the information about the material's origin cannot be changed undetected.

Volvo Cars has now reached an agreement with its two global battery suppliers, CATL of China and LG Chem of South Korea, and leading global blockchain technology firms to implement traceability of cobalt, starting this year. Technology firms Circulor and Oracle operate the blockchain technology across CATL's supply chain following a successful pilot earlier this summer, while the Responsible Sourcing Blockchain Network (RSBN), together with responsible sourcing specialists RCS Global and IBM, is rolling out the technology in LG Chem's supply chain.

“We have always been committed to an ethical supply chain for our raw materials,” said Martina Buchhauser, Head of Procurement at Volvo Cars. “With blockchain technology, we can take the next step towards ensuring full traceability of our supply chain and minimising any related risks, in close collaboration with our suppliers.”

A blockchain is a digital ledger containing a list of records linked to each other via cryptography. Within supply chains, the technology creates records of transactions which cannot be changed, while also enforcing a common set of rules for what data can be recorded. This allows participants to verify and audit transactions independently.

In this particular case, data in the blockchain includes the cobalt's origin, attributes such as weight and size, the chain of custody and information establishing that participant's behavior is consistent with OECD supply chain guidelines. This approach helps create trust between participants along a supply chain.

Volvo Cars last month launched the XC40 Recharge, the first of an upcoming family of fully electric cars under the Recharge banner. By 2025, it expects half of its global sales to consist of fully electric cars, with the rest hybrids. Last month, the Swedish carmaker also launched an ambitious climate plan, which includes a radical reduction of carbon emissions by 40% per vehicle by 2025, as well as a continued commitment to ethical business across its entire operations and supply chain.

CATL and LG Chem are renowned battery manufacturers, both with long and successful track records supplying lithium-ion batteries to the global automotive industry. They fulfil Volvo Cars' strict sourcing guidelines in terms of technology leadership, responsible supply chains, reduction of carbon emissions and competitive cost models.

The agreements between Volvo Cars, CATL and LG Chem cover the supply of batteries over the coming decade for next-generation Volvo and Polestar models, including the XC40 Recharge.


The Latest News, Brought To You By
Volvo Cars to implement Blockchain Traceability of Cobalt used in EV Batteries
Modified on Wednesday 6th November 2019
Find all articles related to:
Volvo Cars to implement Blockchain Traceability of Cobalt used in EV Batteries
TaaS Technology Magazine
Info
UCLA Health Center Receives All-electric Winnebago As A Zero-emission Mobile Surgical Instrument Lab
Xpeng Motors Announces $400 Million Series C Capital Funding
Eurovia And Academy Of Robotics Agree Partner To Accelerate Autonomous Vehicle Development With “Kar-go”
CBRE And SemaConnect Complete Largest EV Charging Installation In The US
Volvo Buses Demonstrates Electric Autonomous Solution For Bus Depot
Dresden-based KaSiLi To Make Better Batteries For EVs In Germany
Eberspaecher Cooperates With Startup Autobahn
Reservations Open For All-new Peugeot E-2008 SUV
BYD Receives Largest Battery-Electric Bus Order In US History
Lucid Air Beta Prototype Body-Structure Constructed In-house At The Company’s Global Headquarters
ZF And Danfoss Seal Strategic Partnership
Tata Power-DDL Collaborates With Zoomcar To Run EV Fleet
Volkswagen Breaks Ground On Expansion For EV Production In US
Rampini And Caetanobus Reach Commercial Agreement
ETAS And BlackBerry QNX Announce Cooperation For Software Platform Based On AUTOSAR Adaptive
Hyundai Teases Plug-in Hybrid Electric SUV Concept Ahead Of 2019 AutoMobility LA
Morris Commercial Unveils Its All-new, All-electric Morris JE Van
Evergrande To Invest Around $6.3 Billion To Promote NEV Development
Tesla’s Gigafactory In Germany To Create As Many As 10,000 Jobs
LeddarTech Gets Recognised As A CES 2020 Innovation Award Honouree For The Leddar Pixell
Curiosity Lab And TUSA Partner To Foster Smart City And Intelligent Mobility Technology Innovation
DRiV Expands Ride Performance Presence On New Polestar 2 Electric Performance Fastback
Volkswagen And BASF Honour Battery Researcher Dr. Kimberly See
Tesla To Build Its European Gigafactory Near Berlin
Info
Info
×
Search the news archive

To close this popup you can press escape or click the close icon.
Logo
×
Logo
×
Register - Step 1

You may choose to subscribe to the TaaS Magazine, the TaaS Newsletter, or both. You may also request additional information if required, before submitting your application.


Please subscribe me to:

 

You chose the industry type of "Other"

Please enter the industry that you work in:
Please enter the industry that you work in:
 
X
Info
X
Info
{taasPodcastNotification}