BrazilBearingPoint inks partnership with battery specialist Twaice
BearingPoint has signed a partnership deal with Twaice, a company that uses intelligent technology to predict the life of batteries.
The collaboration comes months after Twaice – a spin-off from the Technical University of Munich – raised €11 million in a Series A funding round. The Munich-based company has developed an attractive proposition for all manufacturers that use batteries in their products. Its battery analytics software enables real-time insight in the battery aging processes.
Such insights can unlock far-fetched benefits for companies in energy, logistics, power and transport, among others. However, the electrical vehicles segment of the automotive industry is notably the best example of the potential. Although electrical vehicles still account for under 3% of global vehicle sales, the segment is growing rapidly, on the back of a growing demands from manufacturers, consumers and governments to make mobility more sustainable.
One of the main challenges of electrical vehicles is the actual battery. For some, the low range of batteries still is a bottleneck for switching from combustion engines, while for others, the uncertainty regarding lifetime and residual value (most of which follows from limited knowledge about the aging behaviour of batteries) represents a roadblock.
Meanwhile, for OEMs, suppliers, and mobility providers, better knowledge of battery aging behaviour could drive significant cost savings, as it will allow to improve processes, and equally important, the maintenance approach. And, leveraging better insights, manufacturing operations can down the line be improved, driving down the costs of production. As it stands, batteries comprise up to 50% of the total vehicle costs.
Similarly, insights could also drive top-line growth, with predictive maintenance a service that many consumers would be willing to pay for. This is where Twaice comes in. Its cloud-based and artificial intelligence powered platform provides an end-to-end perspective on battery analytics, monitoring, and life cycle management.
The technology can be used in multiple ways, ranging from optimised R&D and production over decreased warranty costs to optimised fleet management. Another application area is the second life of batteries, which includes for example the integration of used batteries into energy storage systems,” explained Michael Baumann, co-founder and Managing Director of Twaice.
Collaboration with BearingPoint
To help it connect with clients, and with embedding its solution within broader strategies as well as with the actual implementation, Twaice has inked a partnership with BearingPoint, a 4,500-strong European-origin consulting firm with an established track record in industrial sectors.
“BearingPoint has extensive experience and expertise in core automotive and e-mobility processes,” said Baumann, and this will contribute to the “seamless integration of the Twaice software into both existing and new business models.” He continued, “The combination of BearingPoint’s extensive industry expertise with our in-depth battery know-how and advanced battery analytics solutions creates maximum customer value.”
Christoph Landgrebe, a Partner at BearingPoint, added: “Electric vehicles are becoming increasingly popular worldwide. And as batteries are the main cost driver of electric vehicles, it is essential to analyse and understand the factors influencing batteries and how they can be controlled. Together with Twaice, we support our customers with predictive battery analytics across the entire value chain.”
In March this year, Twaice also signed a cooperation with MHP, a German business-IT consulting firm.
