SAIC-GM-Wuling, the Chinese joint venture between General Motors, SAIC Motor Corp, and Guangxi Automobile Group, will implement new blockchain technology to help reduce costs, improve efficiency, and reduce potential errors.
Per a recent report from Bloomberg, China’s central government announced just prior to the Lunar New Year that 15 pilot areas had been selected for the application of new blockchain technology, including a range of industries and companies, such as banking, utilities, hospitals, and local government agencies. However, in addition to those sectors, just a single automotive entity was selected for the trial, namely SAIC-GM-Wuling.
For those who may not know, blockchain technology is an example what is known as a distributed ledger system, wherein transactions are digitally recorded in multiple locations at once. As compared to traditional databases, which store data in a single location, distributed ledger systems store data in a variety of locations, thus ensuring the veracity of the data based on consensus. The best-known example of this technology are cryptocurrencies, such as Bitcoin.
Several other global automakers are now moving to implement new blockchain technology into the production process as well, including Mercedes-Benz, BMW, and Toyota, to name just a few.
Per the Bloomberg report, SAIC-GM-Wuling sources nearly 1,000 different components daily from a huge range of suppliers, with transactions that could number in the millions. As such, the potential for human error through paper-based documentation is high, something which blockchain technology could work to reduce.
The new blockchain tech is expected to reduce paperwork by as much as 10 million sheets per year, reducing costs by $2.5 million annually. Although at first glance this may not seem like a sizable sum for a company as big as SAIC-GM-Wuling, it will certainly help as the company strives to offer low-cost products like the MINI EV, which is priced at the equivalent of less than $5,000 in China. As GM Authority covered previously, SAIC-GM-Wuling sold nearly 400,000 units of the MINI EV last year, making it the best-selling electric vehicle in the Chinese market.
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Comments
Another home run for gm. Hopefully in the very near future more production moves to china. The Chinese workers are better in every way then the American workers.
Mary Barra approves this message.
Gotta wonder about the motives behind this American labor and union labor bashing.
The union sucks man. We’re they good decades ago yes they were but this is not the 40-50-60 anymore it’s 2022 unions are pure trash now. Get out and talk to people just ask some random people what they think of unions and listen to the answers you will get. I work at a place that has over 3,000 workers we voted overwhelmingly NO to a union. When I say overwhelmingly I mean it wasn’t even close.
Most of the anti-union stuff you see online is seeded by China. Make unions seem like unreasonable stubborn mules for protecting the middle class is their goal. You can read through it in the stuff like what Rick posted here. It’s about killing off the U.S. middle class so we have to pay China more and more for manufacturing.
Right china paid me to write that comment lol.
Amazon said no to the union last year troll. Are you claiming all the workers who voted no are paid by china? Are you claiming all the Starbucks workers who voted no are paid by china?
These Chinese communists are very insidious in their efforts to destroy American industry and our way of life. They well know that we could not have won WWII without our heavy industry and unionized skilled trades.
People don’t wanna have to go on strike with no choice just because others aren’t happy.
This is the best selling electric vehicle in the world. They sell more than Tesla!
This is where the world is headed. Good grief.
Gotta question the motives behind this US labor and union labor bashing. After all, it was American union labor and American industry that made it possible for our American solders to win WWII. If we had not won that war in the Pacific, Chinese would still be nothing but slaves an prostitutes for the Japs.