Volvo to trace battery cobalt using blockchain technology

Automakers, under pressure to show electric vehicle batteries are sourced responsibly, are exploring the usefulness of blockchain – the immutable ledger technology – to improve scrutiny of supply chains and show sourcing does not rely on conflict minerals or child labor.

“With blockchain technology we can take the next step toward ensuring full traceability of our supply chain and minimizing any related risks, in close collaboration with our suppliers,” Volvo board member for procurement Martina Buchhauser said in a statement.