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Volvo said that the COVID-19 outbreak has severely disrupted the company’s production output and supply chain. However, the company’s overall business with trucks, buses, engines, and construction equipment remained overall profitable.AB Volvo, the Sweden-based truckmaker and automobile giant released its results for Q2 2020. Surprisingly, the company reported better-than-expected profit
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On July 8, Volvo Cars Tech Fund announced their investment in blockchain traceability startup, Circulor.Volvo previously used Circulor’s traceability solution to track cobalt in its batteries. Much of cobalt mining happens in Africa under questionable conditions and involves child labor. In the era where more consumers are becoming concerned with
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Volvo Cars announced last week that it is using Oracle’s blockchain platform to trace cobalt, one of the main components in electric car batteries. Following the unveiling of the company’s first fully electric car, the XC40 Recharge, Volvo has come up with a new business strategy that includes introducing
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Volvo Cars is the first car manufacturer company that will implement blockchain technology to trace cobalt in its batteries for ethical purposes.Volvo made the announcement during the launch of XC40, its first ever fully electric car. Why would a user of an electric car need to trace cobalt? The key
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Volvo Cars will become the first carmaker to blockchain technology in order to globally trace the cobalt used in its batteries. advertisement “We have always been committed to an ethical supply chain for our raw materials,” said Martina Buchhauser, head of procurement at Volvo Cars. “With blockchain technology, we can take the
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