Interoperable, privacy-preserving, and trusted multiparty track-and-trace systems are needed to effectively manage assets in the value chain and empower consumers to make informed purchasing decisions with confidence. Greater asset transparency can streamline operations and lead to more resilient and greener global supply chains, helping to promote sustainable and ethical sourcing, reduce bottlenecks, and simplify business processes for asset tracking, maintenance, and recalls.
With the exponential rise of electric vehicles (EVs) comes an increased demand for EV parts. In the U.S. alone, electric batteries landed in the top 3 imports for September 2021. Globally, EVs are projected to make up 31% of all light-duty vehicles by 2050. This increased demand — in addition to recent proposed legislation such as the EU’s carbon border tax — puts pressure on suppliers, vehicle manufacturers (OEMs), and dealers to ensure a safe, secure, efficient, and sustainable EV parts supply chain.
While Citopia partsTRAK will be applicable to value chains of all types, the first pilot focuses on improving downstream and upstream supply chain traceability for the most expensive part of an EV: the battery. The ability to track and trace battery components, material sourcing, and manufacturing using partsTRAK will greatly enhance visibility in the value chain, enabling applications such as global battery passports, battery state of health (SOH), battery second life, recall management, and many more.
As mandated by policy initiatives like the European Commission’s Sustainable Batteries Regulation and CARB’s Zero-Emission Vehicle Requirements, it is critical to have digital records of the battery lifecycle and ensure ESG guidelines are met. This regulation has implications for several stakeholders, including suppliers, OEMs, and dealers.