Blockchain

Volvo Cars to Implement Blockchain Traceable Cobot in its Electric Car Batteries.

Volvo Cars announced in a blog post published on November 6 that the company will start to implement Blockchain traceable cobot in the batteries of the electric cars it produces.

The company will guarantee that its customers can move around in Volvo electrified Volvos knowing the materials for the battery have been sourced properly.

Blockchain technology, which establishes a transparent and reliable shared data network, significantly boosts transparency of the raw material supply chain as the information about the material’s origin cannot be changed undetected” the post said.

The company is now in agreement with CATL of China and LG Chem of South Korea two of the world’s well-known battery suppliers implement traceability of cobalt commercing this year.

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.

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