Volvo is investing in blockchain firm Circulor through its investment arm- Volvo Cars Tech Fund. Volvo has been using Circulor’s blockchain in its battery supply chain, for tracing cobalt used in electric vehicle batteries. They will be using blockchain in newer areas, for instance tracking and reducing CO2 footprints.
Volvo Cars was amongst the first few to start worldwide traceability of cobalt utilized in its batteries by applying blockchain technology across its supply chain. The technology developed by Circulor is applied in partnership with CATL and LG Chem; Volvo Cars’ battery supply partners.