AMSTERDAM & MUNICH--(BUSINESS WIRE)--
Management and technology consultancy BearingPoint and battery analytics software provider TWAICE have 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.
New business models along the entire automotive value chain
The e-mobility market is continually growing. 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, the main 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 strategic 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.
Dr. Michael Baumann, Co-Founder and Managing Director of TWAICE:
"Players in the mobility and energy sector are increasingly relying on batteries. Together with our partner BearingPoint, we can address the challenges associated with batteries and enable OEMs, fleet managers, and energy providers to make a profitable transition to a battery-powered and electric future. The combination of BearingPoint's extensive industry expertise with our in-depth battery know-how and advanced battery analytics solutions creates maximum customer value."
Dr. Stefan Penthin, Global Leader Automotive at BearingPoint:
"Partnering with TWAICE enriches our existing expertise in battery and predictive analytics to support our clients along the entire value chain. With the capability to combine technical know-how and business requirements, we enable our clients across industries to face the challenges of high-voltage battery management. Therefore, the usage and state-of-health are being analyzed, monitored and optimized, and the findings transferred into individually defined business use cases."
BearingPoint is an independent management and technology consultancy with European roots and a global reach. The company operates in three business units: The first unit covers the advisory business with a clear focus on five key areas to drive growth across all regions. The second unit provides IP-driven managed services beyond SaaS and offers business critical services to its clients supporting their business success. The third unit provides the software for successful digital transformation and regulatory requirements. It is also designed to explore innovative business models with clients and partners by driving the financing and development of start-ups and leveraging ecosystems.
BearingPoint's clients include many of the world's leading companies and organizations. The firm has a global consulting network with more than 10,000 people and supports clients in over 70 countries, engaging with them to achieve measurable and sustainable success.
For more information, please visit:
View source version on businesswire.com: https://www.businesswire.com/news/home/20200903005051/en/
Copyright Business Wire 2020