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
Ford Boosts Investment In Solid Power
Toshiba Expands Scope Of Its Solid-State LiDAR Solution To Address Transportation Infrastructure Monitoring
Iteris Awarded $3.3 Million Contract By City Of Modesto For Smart Mobility Initiative
SEAT Introduces Autonomous Mobile Robots In Its Barcelona Factory
AAM And REE Automotive To Jointly Develop New Electric Propulsion System
Nano One And Johnson Matthey Enter Into A Joint Development Agreement For Lithium-ion Battery Materials
EasyMile Raises €55 Million In Series B Round
Fisker Launches Resource For Environmental, Social, And Governance Policy, Practices And Reporting And
Gilbarco Veeder-Root Expands E-mobility Platform With Launch Of EVerse
European Launch: NIO To Sell Smart Premium EVs In Norway
Former Google Head Of Energy Strategy Neha Palmer Joins TeraWatt Infrastructure
Construction Begins On First-of-its-kind Electric Vehicle Battery Technology Centre And Pilot Line
FEV Successful In Designing Low Emission, Efficient Hydrogen Internal Combustion Engine
Faraday Future Selects Velodyne As Exclusive Lidar Supplier For Flagship FF 91
PCB Depaneling: Laser Technology Improves Quality And Efficiency For Automotive Applications
Uber, Mobilize, RATP And Blablacar Join Forces For Sustainable Mobility By Launching The “Mobilité360” Project
Pininfarina And MT Distribution Join Forces To Create A New Range Of Vehicles For Urban Electric Micro-mobility
HELLA Brings Latest Passenger Car 77GHz Radar Technology Into Series Production
GHD Survey Reveals Half Of British Consumers Are Considering An Electric Vehicle In Next Five Years
Nikola And Total Transportation Services Inc. Sign LOI For 100 Nikola Trucks
Faction Raises $4.3M To Develop Light EV Driverless Fleets
Daimler Truck AG And Volvo Group Fully Committed To Hydrogen-based Fuel-cells – Launch Of New Joint Venture Cellcentric
Dr. Matthias Jurytko Takes Over The Management Of The Fuel Cell Joint Venture Cellcentric
Renault Group And Plug Power Inc. Launch HYVIA
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} Array
Live Event