Tata Motors – India-based car factoring firm – is reportedly exploring ways to integrate blockchain into its existing systems, as part of a recently introduced, startup-focused program. 

Reported by the Business Insider India on September 18, Tata Motors has officially announced the startup-concentrated project – named “Tata Motors AutoMobility Collaboration Network 2.0”. The firm specifically hopes this initiative will pave the way for the appearance of many products and developments in the field of crypto and blockchain, nominally A.I and blockchain-based tools. 

Tata Motors further looks to utilized blockchain to fix and enhance different areas of the automotive field, including parking marketplace, demand prediction algorithm and real-time monitoring of fuel quality.

“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.” Shailesh Chandra, one of Tata Motors executives, further added. 

Tata Motors is not the first firm in the automotive field to explore blockchain implementations in the industry. In August 2019, Volvo Cars – a high-profile car manufacturer headquartered in China – used blockchain as a solution for tracking its cobalt electric cars – an attempt to provide evidence that conflict minerals or child labor are not involved in the manufacturing process.