ZF has established Car eWallet, developer of an open, blockchain-enabled platform to support payments for refuelling, electric car charging, parking, toll, car-sharing or other such transactions, as a separate company. Based in Berlin, it intends to operate like an independent start-up, and while ZF has provided the initial capital, it will look for further outside investment.
A six-month project with IBM and the global bank UBS has just been completed, and the first pilot products will be launched later this year. Car eWallet claims to simplify technical services, digital trade and cashless payments, and to connect manufacturers, suppliers, service providers and customers – including for transactions related to driverless vehicles.
“We are now working intensively on developing Car eWallet for market rollout,” said project leader Alexander Graf in a statement, explaining: “We will maintain the technological connection to ZF and its product portfolio, and at the same time, open up Car eWallet to many other users from the entire mobility industry as well as financial service providers.”
Eaton creates new business division
Power management company Eaton has also announced a new business division, albeit in-house: eMobility aggregates activities from the current Electrical and Vehicle businesses to focus on vehicle electrification. A $500 million investment over the next five years will fund the development of new products including smart diagnostic technologies and predictive health monitoring. From the outset, eMobility employs around 1200 people at the Eaton HQ in Southfield, Michigan, and at design and manufacturing locations in Asia, Europe and the Americas.