Solera Announces Strategic Partnership with Axalta, a Leading Global Supplier of Liquid and Powder Coatings
Solera, a leader in vehicle lifecycle management, announces a strategic partnership with Axalta (NYSE: AXTA), a global supplier of coatings. This collaboration integrates Axalta’s refinish paint systems into Solera’s Sustainable Estimatics platform to accurately calculate CO2 emissions per vehicle repair. The initiative will help body shops and insurers make data-driven decisions to reduce carbon footprints, aligning with EU's CSRD regulations. Axalta aims to be carbon neutral by 2040, and this partnership supports its sustainability goals, providing eco-conscious products, tools, and resources.
- Axalta partners with Solera to accurately calculate CO2 emissions per vehicle repair.
- Axalta's refinish paint systems integrate with Solera’s Sustainable Estimatics platform.
- Supports Axalta's goal to become carbon neutral by 2040.
- Helps body shops and insurers make data-driven decisions to lower carbon footprints.
- Aligns with EU's CSRD regulations for emissions tracking by 2025.
- Provides tools and resources to minimize environmental impact.
- Compliance with CSRD regulations may increase operational costs.
- Dependence on the success of the Solera platform for accurate emissions data.
- Potential for increased initial costs to integrate new systems into existing workflows.
Insights
The partnership between Solera and Axalta is a significant development in the vehicle lifecycle management industry, especially from an environmental standpoint. Axalta's integration of its Fast Cure Low Energy (FCLE) paint systems into Solera's Sustainable Estimatics platform will empower auto repair shops to precisely measure CO2 emissions from their processes. This is in line with the growing emphasis on sustainability and the need for businesses to comply with regulations like the EU’s Corporate Sustainability Reporting Directive (CSRD).
Such accurate measurement tools will allow firms to assess their environmental footprint more rigorously, rather than relying on generalized industry averages. This is particularly important as the automotive industry faces increased scrutiny over its environmental impact. Moreover, by offering dashboards and benchmarking capabilities, the initiative provides actionable insights for businesses to improve their sustainability practices, potentially reducing their carbon footprint and improving their compliance readiness for upcoming regulations.
It’s worth noting that the ability to track and report specific emissions can give businesses a competitive edge. Companies demonstrating a commitment to reducing CO2 emissions may find themselves favored by environmentally conscious consumers and investors, aligning with broader market trends towards sustainability.
This collaboration between Solera and Axalta presents a promising advancement in the auto repair market. From a market perspective, the integration of Axalta’s paint systems into Solera’s platform is likely to enhance the value proposition for both companies. For Axalta, being the first refinish paint manufacturer to provide detailed CO2 emissions data adds a unique selling point to their product lineup. This could drive increased adoption of their eco-friendly paint solutions, particularly among businesses looking to meet sustainability targets.
For Solera, this partnership enhances its Sustainable Estimatics platform, offering a more comprehensive tool for its customers. By enabling precise CO2 emissions tracking, Solera can attract a broader client base, including insurance companies and auto repair shops keen on sustainability. This could potentially translate into higher revenue streams and strengthen their market position.
Furthermore, as environmental regulations tighten, businesses that proactively adopt these advanced solutions may avoid potential non-compliance penalties and benefit from incentives for reducing emissions. This strategic partnership thus holds significant potential for market growth and differentiation.
From a financial perspective, this partnership could positively impact both Solera and Axalta. For Axalta, the integration of their FCLE paint systems into Solera’s platform aligns with their goal of becoming Carbon Neutral by 2040 and could enhance their brand perception as an eco-conscious company. This could potentially attract more customers who prioritize sustainability, driving sales growth in their refinish paint segment.
Solera’s Sustainable Estimatics platform, with the added capability to measure CO2 emissions accurately, could become a compelling solution for the auto repair and insurance industries. The increased demand for such precise sustainability tools can drive revenue growth and market share expansion for Solera. Moreover, the collaboration may lead to further innovations and product enhancements, bolstering their competitive edge in the market.
Additionally, as more businesses seek to comply with the EU’s CSRD and other global sustainability reporting requirements, the demand for Solera’s platform is likely to surge. This could result in a steady revenue stream from subscription-based or service-based models, enhancing financial stability and long-term growth prospects for both companies.
Solera and Axalta partner together to accurately calculate CO2 emissions per vehicle repair.
WEST LAKE,
By partnering with Solera, Axalta is the first refinish paint manufacturer to provide the data to accurately calculate the CO2 emissions of products and processes used during the repair rather than general industry averages. Under the BELEAF umbrella, Axalta provides high performing eco-conscious products, innovative tools and optimal resources to help body shops minimize their environmental footprint while contributing to their business’ success. Solera Sustainable Estimatics for Paint is a new resource that highlights Axalta’s commitment to sustainability and the BELEAF initiative.
“We are excited to partner with Solera and introduce a new solution to the market,” said Troy Weaver, President of Global Refinish at Axalta. “This technology aligns with Axalta’s ongoing commitment to sustainability as we set out to become Carbon Neutral by 2040 and was designed with our customers in mind to help them achieve their sustainability goals. By accurately calculating CO2 emissions per repair, our customers can make data-driven decisions to help lower their carbon footprint while also benefiting their bottom line.”
Due to the EU’s Corporate Sustainability Reporting Directive (CSRD), many countries will require businesses to track and report their emissions by 2025. Sustainable Estimatics for Paint makes it easy to analyze Scope 1, 2, and 3 CO2 emissions, allowing organizations to present credible and verified carbon emission figures. Customers will also be able to review dashboards to analyze their overall collision repair footprint and benchmark against regional, country-specific, and industry-wide data. Together with Solera, Axalta provides the products, tools, and resources to help refinish customers reduce their impact on the environment.
Arnaud Agostini, International Managing Director at Solera commented: “Working with Axalta was a very natural course of action for us as part of our Sustainable Estimatics solution. The ability to measure carbon emissions is becoming more prevalent across the world, with an ever-increasing number of governments looking to advocate its measurement to understand the environmental impact of vehicle repair on the planet.
The preparation, production and use of paint is an important part of every body shop process and a hugely important factor for insurers who will need to accurately measure and report the CO2 impact of every element of every repair.
By partnering with Axalta, Solera not only ensures accurate measurement of the CO2 emissions emitted as the result of a repair, but given the paint process is continually evolving, we ensure that, by having access to Axalta’s ever-changing data as they develop more eco-friendly paints, our data remains fit for purpose over the long term, bringing the most accurate CO2 emissions connected to vehicle repair.”
To learn more about Axalta’s sustainability initiatives, visit refinish.axalta.eu/beleaf.
About Axalta
Axalta provides performance coatings for a wide range of industrial applications; light vehicle and commercial vehicle coatings for original equipment manufacturers; and refinish surface preparation and coating systems for body shops globally. Our team serves more than 100,000 customers in over 140 countries. With more than 150 years of experience and impact, we innovate smarter surface solutions for better living and a sustainable future. To learn more about Axalta’s sustainability initiatives, visit refinish.axalta.eu/beleaf.
About Solera
Solera is the global leader in vehicle lifecycle management software-as-a-service, data, and services. Through four lines of business – vehicle claims, vehicle repairs, vehicle solutions, and fleet solutions – Solera is home to many leading brands in the vehicle lifecycle ecosystem, including Identifix, Audatex, DealerSocket, Omnitracs, LoJack, Spireon, eDriving/Mentor, Explore, cap hpi, Autodata, and others. Solera empowers its customers to succeed in the digital age by providing them with a “one-stop shop” solution that streamlines operations, offers data-driven analytics, and enhances customer engagement, which Solera believes helps customers drive sales, promote customer retention, and improve profit margins. Solera serves over 280,000 global customers and partners in 120+ countries. For more information, visit www.solera.com.
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Source: Solera
FAQ
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