Press release
122KB
january 31, 2023 - Mercedes-Benz
With the foundation of the joint venture Cofinity-X, ten partners of the automotive industry will further foster the adoption of the Catena-X network
- Mercedes-Benz, BASF, #bmwgroup, Henkel, SAP, Schaeffler, #siemens, T-Systems, #volkswagen and ZF jointly founded Cofinity-X to accelerate the operation and adoption of Catena-X use-cases throughout the #automotive industry.
- Cofinity-X aims to operate an open marketplace for applications and provide products and services to enable the efficient and secure exchange of data between all participants of the ecosystem initially focusing on the European market.
- Cofinity-X will help to make important progress with the operationalization and build-up of end‑to‑end data-chains to trace material flows throughout the entire value chain.
- Basis for the operation will be the trusted Catena-X and Gaia-X principles ensuring full data sovereignty for data sharing parties in an open, trusted, collaborative, and secure environment.
With the foundation of Cofinity-X the shareholders #mercedesbenz, BASF, #bmwgroup, Henkel, SAP, Schaeffler, #siemens, T-Systems, #volkswagen and ZF initiate the next step in Europe to foster the Catena-X initiative. Cofinity-X strives to be one of the first operating companies which aims to provide products and services for the secure exchange of data throughout the entire #automotive value chain.
"At #mercedesbenz, we’re convinced that transparency, efficiency, and data sovereignty are the key levers for sustainable and data-driven value chains. Through the new Cofinity-X joint venture, we are bringing to life the Catena-X vision of an open ecosystem for secure and standardized data exchange along the entire value chain. The first solutions are almost ready and, thanks to Cofinity-X, every company in the #automotive sector can shortly benefit from services and offers that use the results of Catena-X.”
Markus Schäfer, Member of the Board of Management of #mercedesbenz Group AG, Chief Technology Officer, Development & Procurement
Future customers will be able to access applications and services to implement use-cases in the #automotive value chain such as CO2 and ESG monitoring, Traceability, Circular Economy or Business Partner Data Management.
Approaches for decarbonization:Carbon Footprint Tracking solutions enable concise, accurate calculation and reporting of CO2 values along the value chain. This will allow Cofinity-X customers to stay ahead in Carbon Footprint transparency and derive potential sustainability improvements to play an active role in the global effort to reach net-zero.
Consistent and reliable traceability: Tracing parts and components at any time throughout the entire supply chain starting with raw material and closing the loop with recycled parts. Traceability applications can give the possibility to display the entire value chain and help to find ways to increase supply-chain resilience.
Circular Economy for a sustainable value chain: The recycling of materials is an ever-increasing topic of importance within the #automotive industry. The information about the condition of components can be transparently displayed among suppliers and customers to properly re-use parts and components. By implementing circular economy, companies can improve the ratio of recyclable materials in their products and reduce waste.
Intelligent Business Partner Data Management (BPDM):Companies invest significant resources to keep customer and supplier data up to date. The BPDM services of Cofinity-X clean and enrich business partner data across the #automotive industry. Customers of Cofinity-X thus can benefit from sorted, analyzed, uncluttered, and enriched partner data.
Collaboration between suppliers and customers throughout the #automotive value chain
“Increasing requirements to trace all materials throughout the entire value chain is one of the key factors Cofinity-X is built on. We will be an important part of a rapidly scaling ecosystem in which all companies in the #automotive value chain can participate equally. Therefore, our product offering will initiate end-to-end data chains as well as generate value for all the participants.”
Alexander Schleicher, Managing Director Cofinity-X
Further information in the press release to download
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