Battery digital twin developer Twaice has signed a long term strategic deal with consultancy BearingPoint
The deal provides an end-to-end perspective on battery analytics, monitoring, and life cycle management by using artificial intelligence. Twaice, a spinout of the Technical University of Munich, has developed in-depth expertise in battery analytics with cloud-based software which enables precise real-time simulations and predictions of battery aging processes. BearingPoint has extensive experience and expertise in core automotive and e-mobility processes, contributing to the seamless integration of the Twaice software into both existing and new business models. This combination of technological innovation and market expertise enables clients to identify and implement new business models in the field of battery analytics along the entire automotive value chain.
Existing and new clients including companies in the mobility and energy sector. Users and operators of batteries in the automotive industry, such as OEMs, suppliers, and mobility providers are able to tap into new revenue sources and achieve cost savings based on the combination of sophisticated battery analytics with deep processual and market knowledge.
The Twaice software creates digital twins of high-voltage (HV) batteries to predict battery life, provide predictive maintenance scenarios, and offer real-time monitoring of batteries.
The e-mobility market is constantly 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 are well-known and include the low range, the lack of extensive charging infrastructure, high investment costs, and the uncertainty regarding lifetime and residual value, which arises from lacking knowledge about the batteries’ aging behaviour.
“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,” said Dr Michael Baumann, Co-Founder and Managing Director of Twaice. “The combination of BearingPoint’s extensive industry expertise with our in-depth battery know-how and advanced battery analytics solutions creates maximum customer value.”
The digital twin technology can be used in multiple ways with predictive battery analytics, 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 partnership will help 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 through the digital twin sofware.
“The usage of battery analytics enables mobility providers and vehicle manufacturers to offer services to their customers which are sustainable in both ecological and economical terms,” said Christoph Landgrebe, Partner at BearingPoint. “With customers requiring reliable, sustainable, and affordable mobility solutions, electric vehicles are becoming increasingly popular worldwide. And as batteries are the main cost driver of electric vehicles, it is essential to analyze and understand the factors influencing batteries and how they can be controlled. Together with our partner Twaice, we support our customers with predictive battery analytics across the entire value chain to improve the state of health and reduce costs.”
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