Guoxuan explores the application of blockchain technology for power lithium battery recycling

On May 11, the on-site meeting on the traceability management of power batteries for new energy vehicles and the Anhui New Energy Vehicle Power Battery Recycling Industry Alliance Conference was held in Hefei. As the chairman of the alliance, Guoxuan Hi-Tech revealed that it is cooperating with related parties to build a battery life cycle information management and control system based on blockchain technology to create a true, transparent and comprehensive battery traceability system. Guoxuan has also become one of the first domestic battery manufacturers to adopt blockchain technology. At the beginning of 2021, the two battery companies of CATL and Guoxuan and four OEMs including Great Wall, Chery, Fengsheng, and Chery Commercial Vehicle participated in the joint debugging and joint test of the battery traceability blockchain platform of Beijing Institute of Technology Xinyuan. Xu Xingwu, executive vice president of Guoxuan High-tech Industrial Research Institute, said that most of the retired batteries in the current battery recycling market have been acquired by informal companies, resulting in difficulties in the supply of regular companies and unsustainable battery recycling and reuse. Based on this, Guoxuan focused on exploring three major areas as a business model for battery recycling channel construction, full life cycle recycling evaluation system construction, and service system establishment. Among them, in the development and application of the battery recovery traceability management system, Guoxuan has made relevant research and innovations in data collection, data verification, and data reporting. Xu Xing did not disclose that at present, Guoxuan High-Tech has signed a cooperation agreement with the Feidong County Government to build projects in the area including a production line for the cascade utilization of lithium-ion batteries and a production line for the decomposition and recycling of power lithium-ion batteries. After completion, it is expected to realize the full life cycle management of power lithium batteries, increase the comprehensive utilization value of battery residual value, reduce regional energy consumption, reduce carbon emissions, and have high environmental and economic benefits. Next, Guoxuan will closely integrate with upstream and downstream companies, innovate battery recycling business models, build a complete system from echelon utilization to resource recycling, realize the high-value utilization of decommissioned power lithium batteries, and solve the 'worries' of automobile electrification. In fact, blockchain technology has gradually proven to be effective for supply chain management and traceability. Not only Guoxuan and the above-mentioned companies, including BMW, Toyota, Porsche, Mercedes-Benz, Volkswagen, Hyundai and other automobile giants have been involved in the blockchain. For example, BMW uses blockchain technology for procurement to ensure the traceability of components and raw materials in a multi-level international supply chain; Toyota and MIT are exploring the use of blockchain technology to accelerate the development of autonomous driving technology, and Porsche and the Berlin startup XAIN collaborate on cars. Blockchain technology for toilets, etc. Hyundai Motors cooperates with BlockoInc. (BlockoInc.) to track used cars, etc. In addition, companies including BASF, LG Chem, Samsung SDI, CATL, Huayou Cobalt, IBM, and RCSGlobal have all joined the 'cobalt supply chain' tracking program and will use blockchain technology to improve the transparency of cobalt procurement. It is foreseeable that in the future, with the advancement of the global automotive electrification strategy and the upgrading of competition in the power lithium battery market, it is expected that more and more OEMs, battery factories and material suppliers will join the blockchain supply chain plan to further promote the new energy automotive industry Sustainable development.