Management and technology consultancy BearingPoint and battery analytics software provider TWAICE recently signed a long-term strategic partnership. Clients from the automotive, energy and insurance industry benefit from the combined expertise of the teams along the entire value chain:
Users and operators of batteries in the automotive industry can develop new sources of revenue and achieve cost savings based on battery technology and analysis expertise combined with in-depth process and market knowledge.
The TWAICE software creates digital twins of high-voltage (HV) batteries to predict battery life and maintenance scenarios and the real-time monitoring of batteries. TWAICE analytics results are accessible anytime from anywhere via the TWAICE UI or the TWAICE API which smoothly integrates into any battery monitoring and management solution.
In recent years, electric vehicle sales have been increasing at an average annual rate of 50%, but they still account for only 2.6% of global vehicle sales. So far, reasons for the reluctance to buy include the low range of vehicles, the lack of extensive charging infrastructure, high investment costs, and the uncertainty regarding lifetime and residual value, which arises from a lack of knowledge about the batteries’ aging behavior.
The partnership between TWAICE and BearingPoint provides an end-to-end perspective on battery analysis, monitoring, and life cycle management using artificial intelligence.
TWAICE offers in-depth expertise in battery technology and analysis integrated into a cloud-based software that focuses on the development of a digital twin. The goal is to enable real-time simulations and predictions of battery aging processes.
BearingPoint has extensive experience and expertise in the core processes of the automotive industry, which is essential for the seamless integration of the TWAICE software into existing and new business models. In combination, this enables clients to identify new business models in the area of battery analysis along the entire automotive value chain.
Multiple use cases with predictive battery analytics can be realized, ranging from optimized R&D and production over decreased warranty costs to optimized fleet management. Another application area is the second life of batteries, which includes for example the integration of used batteries into energy storage systems.
The TWAICE and BearingPoint partnership helps clients to gain comprehensive knowledge and transparency about the factors that influence batteries and to improve the state of health in both the short and long run using the approach of predictive analytics.