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Volvo Cars makes cars from recycled cobalt mapped using blockchain

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Volvo Cars makes cars from recycled cobalt mapped using blockchain

Volvo Cars has produced its first cars made from recycled cobalt with the help of blockchain technology, Reuters reported Aug. 2, citing a company statement.

The news outlet said the move is meant to prove to customers and investors that electric cars do not rely on conflict minerals or child labor.

The first line of Volvo Cars produced with recycled cobalt was reportedly made in China, where its parent, Zhejiang Geely Holding Group Co. Ltd., is headquartered. The cars' batteries, meanwhile, were produced by China's Contemporary Amperex Technology Co. Ltd.

The carmaker has also joined a separate project to monitor cobalt from Democratic Republic of Congo, Reuters said.

"It tracked cobalt from a Chinese recycling plant to Volvo Cars Zhejiang over a two-month period to June 27," the company told Reuters, adding that the carmaker aims to see "full transparency and traceability."

The report added that Volvo has also joined companies such as Ford Motor Co., International Business Machines Corp., LG Chem Ltd. and China's Zhejiang Huayou Cobalt Co. Ltd in a project to achieve "quantifiable and continuous" improvement of supply chains. The project is organized by responsible-sourcing group RCS Global.