Indian automaker Tata Motors recently announced that it is introducing the “Tata Motors AutoMobility Collaboration Network 2.0” program to support startups in developing blockchain solutions for the automotive industry.
According to a report by Cointelegraph, Tata Motors said its program is aimed at developing solutions for the automotive industry using new technologies like blockchain and artificial intelligence (AI). Some areas of research will focus on demand prediction algorithms, real-time fuel quality monitoring, and parking marketplace for vehicles.
Shailesh Chandra, President of Electric Mobility Business and Corporate Strategy at Tata Motors, underlined the need for the company to generate its own innovations.
“Today, almost every segment of the automotive value-chain is required to drive its own innovation story. In the current age of uncertainty and speed of change, the above effort of sourcing solutions will need to be driven both through in-house initiatives as well as collaborating with external partners,” said Chandra.
The automotive industry across the world, particularly stakeholders in China, has been actively exploring blockchain solutions to enhance the efficiency of their businesses and operations.
Recently, blockchain developer PlatOn introduced a distributed ledger platform that gathers data and calculates the price of used cars. The platform has already been adopted by the Beijing Mercedes-Benz Sales Service.
Meanwhile, Volvo Cars, a Volvo dealership in China, has unveiled electric cars that use cobalt traced with blockchain in its production, in a bid to improve transparency in its supply chain and ensure that it does not rely on unethically sourced raw materials.
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