Photo/provided by Annual Meeting of the New Champions of the World Economic Forum

During the 15th Annual Meeting of the New Champions of the World Economic Forum held in Dalian, Blockchain technology company Circulor's CEO, Douglas Johnson-Poensgen, had an interview with National Business Daily (NBD). He has highlighted the significance of "Battery Passports" in the European automotive market.

Starting from February 1, 2027, all cars sold in Europe will be required to have a battery passport, which could give manufacturers providing greener products a competitive edge. Circulor, which uses blockchain to trace the supply chain of electric vehicle batteries, has partnered with industry giants such as Volvo, BYD, CATL, BHP Billiton, and TotalEnergies.

Johnson-Poensgen shared that Volvo has already produced the world's first mass-produced car with a battery passport, the EX90, allowing consumers to scan a QR code for detailed information about the battery. This transparency is expected to influence the resale value of electric vehicles. CATL is the first battery manufacturer to implement the passport, demonstrating a proactive stance towards environmental standards.

Furthermore, Johnson-Poensgen emphasized the ethical and cautious application of AI in supply chain tracing to avoid privacy concerns, stating that AI should be used as a tool for data rather than allowing the technology to develop unchecked. As technology advances, the cost of supply chain digitalization is expected to decrease, making it more accessible and affordable for the industry. This development is set to benefit not only the automotive sector but also the broader micro-mobility industry by reducing costs and improving efficiency.