Apollo Tyres Ltd and the Telangana Government have agreed to open a Digital Innovation Centre in Hyderabad. The two parties signed a Memorandum of Understanding (MoU) to that effect after a meeting between the two parties during the World Economic Forum at Davos. The planned Hyderabad location is Apollo Tyres’s second Digital Innovation Centre. The first is in London.
Asahi Kasei has invested in Circularise B.V., a start-up company based in the Netherlands that provides digital product passports and mass balance bookkeeping software. Asahi Kasei made the investment valued at a total of 11 million euros together with Brightlands Venture Partners, 4impact capital and Neste in November 2022.
On 1 September 2022, the global crypto currency market was valued at a trillion dollars, but that figure actually peaked at $2.8 trillion in November 2021. And therefore, whichever way you look at it, cryptocurrency is now a huge economic entity in its own right. With roughly 38 and 18 per cent market share respectively, Bitcoin and Ethereum are the two largest out there. Digital currencies bring with them two main features that suggest they are the future: Firstly, because they work on highly encrypted blockchain networks outside the established financial system, they offer the potential for greater efficiency and securing; and secondly, the operate as decentralised entities, taking governments and state banks out of the equation and empowering businesses and individuals with the margins that were only previously available to banks.
RL Automotive has partnered with the European Space Agency on the development of AutoTrust, a data analytics solution that will see the pair quantify the accuracy of big data gleaned from vehicles. According to the company, RL Automotive currently has an 18-month, 750,000 euro contract from the European Space Agency to develop cybersecure data transfer between vehicles and the cloud.
Tyres have always been a highly technological product, but the influence of technology in the distribution and retail parts of the business hasn’t always moved at the same pace. Recent years, however, have seen the role of Internet and e-commerce take-off. That progress was compounded during the last couple of years of pandemic-related lockdowns. Now, as workers at one of the UK’s leading tyre retail chains recently told us, online orders and bookings account for the lion’s share of business. Indeed, those particular staff members reported that online orders make up as much as 90 per cent of the business they deal with each working day. With that in mind, in October’s magazine, Tyres & Accessories takes a closer look at the Digital Tyre Business, which for the purposes of that feature includes the e-commerce, e-tail and stock management parts of the tyre business.
For more relating to the online tyre business, look out for the Digital Tyre Business feature in the October 2022 edition Tyres & Accessories magazine. Not a subscriber? No problem, click here to become one.
In September 2022 Asahi Kasei Europe joined a joint project on blockchain technology relating to ISCC PLUS certification. Led by the Dutch software provider Circularise and the Japanese trading company Marubeni, this project aims at enhancing the efficiency of the certification process and the integrity of the certified data.
Probably a world first for Vaculug – the laregest independent retreader in Europe will now accept Bitcoin and Ethereum for all payments for tyres and related services. Vaculug will also sign its PPK and PPV fixed price contracts in CPK (Crypto per Kilometre) and CPV (Crypto per Vehicle) formats if customers want to fix or link their contracts to the price of Bitcoin or Ethereum.
Following a successful pilot scheme, Kwik Fit is increasing product availability for customers who want to buy tyres that support sustainable rubber production and help protect the rainforests of Indonesia. The company is now offering three brands of tyre that tick these boxes.
Project TREE is the first attempt to establish natural rubber traceability using blockchain, and the UK is the first market where consumers can buy tyres containing verifiable sustainable rubber. Following the launch of traceable Pirelli tyres earlier this month, Hankook Tire & Technology is now distributing tyres manufactured through the project.