For economical battery handling, Volvo employs Blockchain innovation. It is the first car maker to commit to the highest degree of accountability and to ensure the sustainability of raw materials for battery, processing, and recycling.
In collaboration with CATL and LG Chem, Volvo Cars’ supply accomplices, Circulor’s innovation is being connected. CATL and LG Chem are well-known battery producers that give lithium-ion batteries to the worldwide car industry with long and beneficial records.
They comply with Volvo Cars’ stringent guidelines on technical leadership, responsible supply chains, carbon emissions reduction, and sustainable cost models. The ascension between Volvo Cars, CATL, and LG Chem might cover battery supplies for Volvo and Polestar next-generation models, counting the XC40 Revive P8, amid the coming decade.
It is one of the main challenges for electric vehicle manufacturers to produce high-voltage batteries sustainably. In its electrified versions, Volvo only uses lithium-ion batteries, which last the whole life of the vehicle.
And so? Following the standard service cycle, Volvo is now looking at ways to use the batteries. To store solar energy, for example. At the moment they are testing the use of disused E-Busses batteries in an alternative housing project in Göteborg.
Volvo uses battery blockchain to monitor cobalt
The manufacture of lithium-ion batteries in the supply chain of electric cars faces some of the most demanding sustainability problems. Rare metals, such as cobalt, are not only expensive and limited resources but also face problems of human rights abuses in material procurement
In the past month Volvo Cars announced the introduction of the first fully electric vehicle XC40 Recharge, with a 40 percent cut in carbon emissions per car by 2025, and a constant commitment to ethics across the supply chain.
Volvo Cars follows all cobalt exchanges utilized in their batteries, utilizing trade with the Quantum AI innovation, in agreement with these commitments. The technology produces unchangeable records of all transactions in a single unit of cobalt within supply chains.
Including weight and height, the source, custody chain, and details determining participant actions are following the OECD guidelines on the supply chain. The ultimate objective is to build transparency and trust among all supply chain participants and encourage responsible procurement.
After a promising pilot this summer, companies Circular, and Oracle run the blockchain platform across the CATL supply chain. The RSBN and the RCS Global and IBM accountable procurement specialists are implementing the technology through LG Chem.
To explore more about blockchain technology.
Blockchain technology maximum transparency
Sustainability starts with the mining of rare commodities such as lithium-ion battery cobalt. Volvo Cars are groundbreaking here and as the first automaker in the world strives for full transparency.
The source of the crude materials can be followed back to its root, much obliged to blockchain innovation. This means that only sustainable and qualified raw materials are used by Volvo Cars.
A blockchain is like an advanced “book,” which incorporates a list of information records associated with cryptography. Any exchange is enrolled and cannot be changed inside the supply chain. The information within the blockchain contains particular data approximately the beginnings of cobalt, i.e. weight, estimate, similarity certificate (CoC), etc.. which demonstrate that it conforms to the OECD guidelines for the supply chain.
Global Source Blockchain Technology
The electric Volvo batteries come from Chinese and South Korean suppliers. CATL and LG Chem are well-known battery companies with a long history of conveyance. They comply with Volvo Cars’ strict procurement guidelines and ensure responsible delivery chains, CO2 reduction, and sustainable prices.
The blockchain is run by Circular and Oracle technology firms. In cooperation with experts from IBM and RCS Global, the Responsible Sourcing Blockchain Network (RSBN) will be launched.
Volvo Cars guarantees straightforward traceability, enabling consumers to deliver electrical models with consistent awareness since battery raw materials are produced safely and sustainability is ensured over and beyond the life cycle.
When the primary completely electrical Volvo XC40 energizes immaculate electric rolls, customers will make beyond any doubt that their tall voltage battery is economically manufactured.
We at iMi are pleased that blockchain implementations are now already in the motor industry. While selecting the correct platform, we see this great question mark. If Volvo has selected the right partners in the future. After all, the Cloud services providers of Oracle and IBM.
However, to deploy these blockchain frameworks effectively you don’t need new systems. Therefore, the technology can be implemented easily and safely at lower costs.