Alfa Romeo unveils new electric-hybrid SUV with NFT, blockchain technology

Alfa Romeo unveils new electric-hybrid SUV with NFT, blockchain technology

Italian auto brand Alfa Romeo is bringing NFTs, which recently rose to popularity in digital art, to its new Tonale SUV, the company said Tuesday for the vehicle’s unveiling.

NFTs (non-fungible tokens) are unique digital assets that can’t be replaced with something else and are verified and stored using blockchain technology, which makes it difficult or impossible to change, hack, or cheat the system.

The world’s fourth-largest carmaker’s new SUV Tonale, under new owner Stellantis, has been unveiled as the manufacturer’s first plug-in hybrid electric vehicle and also from any Italy-based car manufacturer ever. Stellaris is home to 14 brands like Maserati, Jeep, DS, and Lancia.

The new SUV Tonale, which is named after Italy’s Alpine pass, will go up against cars such as Audi Q3, BMW X1, and the Mercedes GLA. The company also plans to spend more than 30 billion euros ($34.2 billion) by 2025 to electrify its vehicle lineup to catch up with rivals, including Tesla.

According to Jean-Philippe Imparato, CEO, Alfa Romeo, the company plans to launch a new car every year until 2030 and to launch only electric cars from 2027. SUV Tonale is expected to launch in the US market in 2023 and the prices are likely to be announced in April this year.

One of the most distinctive features of this SUV is that each car is linked to an accompanying NFT. The Tonale NFT, according to Alfa Romeo, certifies a car upon purchase and then simply records and keeps data during the vehicle’s lifespan.

Francesco Calcara, Alfa’s head of global marketing and communication, said: “Upon customer’s consent, the NFT will record vehicle data, generating a certificate that can be used as a guarantee of the car’s overall status, with a positive impact on its residual value.”

Alfa Romeo

Automobile companies are increasingly investing in the NFT market, which is forecasted to reach $240 billion by the end of the decade — minting unique collectible digital tokens that are sometimes included with vehicle purchases.

Blockchain is now being linked to everything from real estate deals to sports fan engagement tokens. Nonfungible tokens (NFTs) have recently generated headlines as businesses race to get on board with this new technology.

The Tonale will feature two new powertrains. One of them is a plug-in hybrid with 30 miles of pure electric range and 272 horsepower. This powertrain works in tandem with Alfa Romeo’s Q4 all-wheel-drive system. The rear axle of the Tonale incorporates a 90-kW electric motor capable of producing 1,844 lb-ft of torque from 0 rpm.

The Alfa Romeo Tonale PHEV offers three options to deliver electrified power to the wheels. The first is a Dynamic mode with maximum output from both the engine and electric motor.

The second is a Natural mode that offers a balance of power from the engine and electric motor that is ideal for daily driving comfort. The third option is an Advanced Efficiency mode. This mode enables the vehicle to operate as a pure EV for 30 miles. 

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