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Volvo Cars to Implement Blockchain Traceability of Cobalt Used in EV Batteries

Metal News - Published on Thu, 07 Nov 2019

Image Source: media.volvocars.
Volvo CaVolvo Cars will become the first carmaker to implement global traceability of cobalt used in its batteries by applying blockchain technology. The announcement follows the reveal last month of the company’s first fully electric car, the XC40 Recharge. 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, together with responsible sourcing specialists RCS Global and IBM, is rolling out the technology in LG Chem’s supply chain.

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.

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.

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Posted By : Yogender Pancholi on Thu, 07 Nov 2019
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