Blockchain Technology to be brought in use for tracing Battery Cobalt in Volvo Cars
Blockchain Technology to be brought in use for tracing Battery Cobalt in Volvo Cars Reserch by Electric Vehicle Info Volvo is a company which is owned by Geely Holding, China. They have dealt with LG Chem and CATL for supplying the batteries for their next-generation Polestar and Volvo models and even for the newly launched XC40 Recharge which is an electric model too. They have this deal at least for the coming decade. A representative from Volvo cars has declared that they will adapt to use cobalt globally in their batteries which can be traced with the help of blockchain technology. The agreement for the supply of cobalt batteries has been finalized with LG Chem of South Korea and CATL of China. All their upcoming models along with the one which was recently launched named XC40 Recharge will be provided batteries from the above-said companies. How they are using Blockchain Blockchain is an immutable ledger technology. And the carmakers are feeling pre...