Wanxiang Blockchain works with Zhizu and Wanxiang Leasing to Build New Battery Swapping Business Model
On Apr.26, Shanghai Wanxiang Blockchain Co.,Ltd.(Wanxiang Blockchain for short), Shanghai Zhizu IoT Technology Ltd. (Zhizu for short) and Wanxiang Leasing Co.,Ltd. (Wanxiang Leasing for short) signed a framework agreement for strategic cooperation, agreeing to build a comprehensive digital solution for battery swapping services by combining blockchain technologies with IoT and privacy computing. This cooperation will start from the management of the lithium cells in electric bikes and be further expanded to other scenarios like carbon credits and the traceability of green power.
The fully fledged logistic system and the huge demand for take-aways have nurtured a large electric bike market in China. The statistics released by China Bike Association in 2020 indicated that the sales volume of electric bikes in China was over 30 million and the electric bike parc amounted to 350 million. Besides, the proportion of lithium cell electric bikes keeps growing in the Chinese electric bike market.
However, as lithium cells have higher demand for charging conditions, the Chinese electric bike market is facing challenges in charging and extending battery life expectancy. In this connection, the battery swapping services for electric bikes have been under hot discussion. Zhizu, boasting professional battery swapping services for deliverymen, has become one of the pioneers in this industry.
The battery swapping industry is not without challenges. To begin with, it takes a great cost to maintain devices like batteries and battery exchange stations. Moreover, a trusted valuation system for lithium cells is badly needed, which may help financial institutions and insurers to provide better services to battery operation companies.
To tackle the problems facing the battery swapping services for electric bikes, Wanxiang Blockchain has launched Battery Asset Trusted Management Platform based on Venachain, a self-developed high performance consortium blockchain and BoAT Blockchain Application Framework co-developed with aitos.io. that combines blockchain with IoT and privacy computing. Built upon this blockchain based platform, Wanxiang Blockchain, Zhizu and Wanxiang Leasing are working together to manage the battery leasing and financing process in a more trusted manner with blockchain and related technologies so as to make it easier for battery operation companies to get the financing services that are necessary for their sustainable development.
Key data in the battery leasing and financing process, such as the battery charging and using data, battery temperature, the location of the electric cars and battery exchange stations, etc. will be collected by BoAT blockchain modules and automatically uploaded to blockchain, which makes sure that data are reliable and trusted from the very beginning. Besides, battery transaction data will also be stored on the blockchain. By doing so, the battery value in different statuses will be mapped on blockchain, which helps to manage the life cycle of batteries in a trusted, dynamic and traceable way.
Wang Bo, President of Wanxiang Leasing said:”Wanxiang Leasing has been dedicated to support the development of brick and mortar economy with leasing services. While there is a huge demand for batter leasing services, this industry also faces complicated challenges. By cooperating with Wanxiang Blockchain, we expect to tackle these challenges with cutting-edge technologies, including blockchain, IoT and privacy computing and we are confident that this strategic cooperation will bring positive results.”
Vincent Y. Wang, Executive President of Wanxiang Blockchain mentioned: “Building comprehensive solutions based on blockchain and other new digital technologies has become an irresistible trend. As the infrastructure of the value Internet, blockchain needs to be integrated with other technologies like IoT, privacy computing, etc. so as to meet the diversified demands of different industries. Boasting Venanchain, our self-developed high performance consortium blockchain and rich ecosystem resources, Wanxiang Blockchain has built a trusted data pedestal to empower the digitalization of different scenarios by combining blockchain with IoT, privacy computing and knowledge graph. In this cooperation with Zhizu and Wanxiang Leasing, Wanxiang Blockchain will make the best of its blockchain strengths to provide a trusted technical infrastructure so as to promote the sustainable development of the battery swapping services.”
Li Xuejun, Chairman and CEO of Zhizu said: “As an innovation-driven technology company, Zhizu has been dedicated to build a world class distributed energy network for electric vehicles and providing safe and convenient battery charging services to electric bike users. Thanks to our relentless efforts, Zhizu has become one of the pioneers in this industry. Through this cooperation with Wanxiang Blockchain and Wanxiang Leasing, we aim to make the life cycle of batteries traceable with blockchain technologies and build a trusted ecosystem for battery swapping services. Moreover, with the financing and leasing services provided by Wanxiang Leasing, we can operate in an asset light manner and promote the sustainable development of the battery swapping services. What’s more, the blockchain technologies provided by Wanxiang Blockchain can also contribute to optimizing business process so as to improve efficiency and reduce cost.”
In a nutshell, this cooperation among Wanxiang Blockchain, Zhizu and Wanxiang Leasing will make the best of our strengths to optimize battery swapping services. In the long run, we will explore the opportunities to empower other business processes like new energy batter operation and recycle, green power traceability, carbon credit management, etc. with blockchain and other new digital technologies.
