Jaguar Land Rover has invested in blockchain technology company Circulor as part of its efforts to trace a sustainable supply chain.
The investment, made through its venture capital and mobility services arm InMotion, will enable the car manufacturer to source premium materials with greater transparency from origin to supplier, in addition to assessing the carbon footprint of its supply network.
Circulor already uses blockchain to boost the traceability of minerals used for electric vehicle (EV) 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.
Sebastian Peck, Managing Director of InMotion Ventures said: “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.
“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.”