The automaker Volvo Cars has entered the capital of the blockchain technology company Circulor through the Volvo Cars Tech Fund. This was reported by Merca2 in an article, the source of which was a statement from the Scandinavian company.
“The automobile company emphasized that has been working with Circulor for years to implement blockchain technology to promote the traceability of cobalt in electric vehicle batteries”, You detailed in the Merca2 publication.
“”Circulatory technology is currently used in the company’s supply chainThis enables 100% traceability of the cobalt used in the XC40 Recharge P8 manufactured in the Gent (Belgium) plant, ”they added later.
Traceability of other materials
They also explained that in the article This investment by Volvo Cars in Circulor would enable the two companies to improve the traceability of other materials. Examples include mica, a material commonly used to isolate batteries on Volvo models.
Martina Buchhauser, Purchasing Manager at Volvo Cars, said that her company is committed to an “ethical” supply chain in terms of raw materials and that working with Circulor has been instrumental in achieving this goal.
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