InMotion, Jaguar Land Rover’s venture capital and mobility services arm, has invested in blockchain technology firm Circulor.
The investment will enable Jaguar Land Rover to source premium materials with greater transparency as to the provenance, welfare, and compliance of suppliers throughout its networks, the carmaker said in a statement.
As part of its commitment to be a responsible business, Jaguar Land Rover said it is always innovating to reduce the environmental and ethical impact of its products across their lifecycle.
The technology can trace valuable raw materials throughout a global supply chain from origin to supplier, with Circulor already using blockchain to boost the traceability of minerals used for electric vehicle batteries.
The technology uses a combination of GPS, biometrics and QR codes to digitally verify the movement of raw materials at every step of the process. As well as tracking compliance, the digital process will enable Jaguar Land Rover to assess the carbon footprint of its supply network.
Blockchain technology is impossible to modify or tamper with, giving customers complete confidence that the supply chain is authentic, and all materials have been sustainably sourced.
“This investment is further evidence of Jaguar Land Rover’s commitment to improving the sustainability of its supply chain around the globe and will help authentically trace raw materials from origin to supplier, eventually to vehicle,” Sebastian Peck, Managing Director of InMotion Ventures said.
“The implementation of blockchain technology provides a great opportunity to make a systemic change in supply chain compliance, not just for the automotive world but for other industries, too.”
InMotion Ventures is Jaguar Land Rover’s venture capital fund. It invests in early-stage technology companies that change the face of urban mobility, support an active outdoor lifestyle, and deliver unique travel experiences. The company is based in London and invest globally.
Circulor provides Traceability-as-a-Service to verify responsible sourcing, underpin effective recycling and attribute CO2 footprint and other impact metrics to the flow of materials. This directly supports manufacturers in addressing the UN Sustainability Goals by reaching parts of their supply chains that most currently have little real visibility into.
“Our blockchain technology has already proved its worth in tracking materials, and we are excited to innovate further with Jaguar Land Rover and its global supply chain,” Douglas Johnson-Poensgen, CEO and Founder of Circulor, said.
“We believe the digitalisation of the supply chain is key to ensuring traceability between the multiple intermediaries that handle the material between its origin and the manufacturer.”