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Renault intends to save $330 million by 2025 with its industrial metaverse

Renault, one of the world’s major manufacturers, has unveiled the creation of the first industrial metaverse, into which all of its production lines feed data. According to the firm, this digital twin duplicate will help it to save $330 million by 2025 by decreasing warranty costs, delivery times, and its carbon footprint.

The Industrial Metaverse of Renault Already underway

Renault has revealed that it is already running an industrial metaverse of its operations, which is supported by a series of processes that allow the company to monitor data from all of its manufacturing lines. This industrialized world consists of manufacturing line integration, supply chain monitoring, and practically all supply flows.

According to the company, using this technology will result in tremendous benefits, including $330 million in savings by 2025. According to reports, the industrial metaverse will allow the firm to cut delivery times by 60% and reduce the carbon footprint of vehicle manufacture by 50%. Furthermore, Renault estimates that warranty expenses will be reduced by 60%.

Jose Vicente de Los Mozos, executive vice president of the Renault industry group and CEO of Iberia said:

Every day, billions of data points are collected at Groupe Renault industrial plants. The metaverse provides real-time monitoring, which improves industrial operations’ flexibility and adaptation, as well as the quality of production and the supply chain.

Solution based on the “Digital Twin” concept

Renault’s metaverse is fed by a system based on digital twins, which are virtual replicas of the company’s factories and assembly lines. The system is then fed data streams from the same facilities and manufacturing lines that have ID@scale, a big data capture solution that is now available to other enterprises, installed.

This technology has already helped to secure the company’s manufacturing process by identifying 300 alarms and saving 300 production line shutdowns. Patrice Haettel, vice president of industry strategy and engineering, stated:

This industrial metaverse is one-of-a-kind, allowing us to engage heretofore unseen efficiency and performance levers for the benefit of people and the environment.

Other companies are also making use of the metaverse for industrial purposes. In October, Microsoft stated that it intended to connect its services to the metaverse in order to provide cloud services for industrial processes as well.

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About MahKa

Renault intends to save $330 million by 2025 with its industrial metaverseMahKa loves exploring the decentralized world. She writes about NFTs, the metaverse, Web3 and similar topics.

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