Polestar, the electric vehicle business of Chinese car company Geely, entered into a strategic partnership with blockchain technology company Circulor on May 11, aiming to use blockchain technology to trace the origin of raw materials.
The scope of the partnership includes focused traceability of a range of raw materials with the aim of preventing the use of environmentally risky raw materials in the supply chain, involving nickel, mica, manganese, graphite and lithium, according to a press release sent to CnEVPost.
Polestar CEO Thomas Ingenlath said that ethical sourcing and environmental protection are two key concerns for Polestar, which is committed to improving the traceability of raw materials and ensuring that they are sourced from responsible supply chains.
Blockchain is a digital ledger that contains a list of records linked to each other by cryptography.
The technology creates a "digital twin" of the raw material being tracked, which is then traced throughout the supply chain, creating a digital trail that tracks and documents the various industrial processes and transformations it undergoes.
Currently, the Scandinavian electric car Polestar 2 has partnered with Circulor to use blockchain technology to track the raw material cobalt needed for battery pack production.