Axalta Announces Partnership with Solera, a Global Leader in Vehicle Lifecycle Management

Rhea-AI Summary

Axalta (NYSE: AXTA), a leading global coatings company, has announced a partnership with Solera, a global leader in vehicle lifecycle management. This partnership will integrate Axalta's conventional and Fast Cure Low Energy (FCLE) refinish paint systems into Solera's Sustainable Estimatics platform. This integration allows Axalta customers to estimate CO2 emissions per repair, considering various factors like repair methods, paint application, and drying conditions. Customers will have access to a live dashboard for energy-conscious, data-driven decisions. Axalta aims for carbon neutrality by 2040, and this partnership supports their BELEAF initiative, focusing on sustainability and eco-conscious products.

Positive

• Axalta's partnership with Solera enhances sustainability efforts in vehicle lifecycle management.
• Integration with Solera's platform allows precise CO2 emission estimates per repair.
• Access to live dashboards helps Axalta customers make data-driven, energy-conscious decisions.
• Axalta aims to become carbon neutral by 2040, reinforcing their commitment to sustainability.
• The initiative supports the BELEAF offering, featuring high-performing, eco-conscious products.

Negative

• There is no specific financial impact mentioned, making it unclear how this partnership will affect revenue.
• The focus on sustainability may increase operational complexity for customers.

Market Research Analyst

The partnership between Axalta and Solera is noteworthy because it reflects a growing trend in the automotive industry towards sustainability. By integrating Axalta's paint systems into Solera's Sustainable Estimatics platform, Axalta is equipping its customers with tools to measure and manage their carbon footprints more effectively.

This move is strategically significant for Axalta as it positions the company as a leader in eco-friendly solutions within the coatings industry. Given the increasing regulatory and consumer demand for sustainability, this could enhance Axalta's competitive edge and potentially attract more environmentally conscious customers.

Furthermore, the ability to provide detailed CO2 emission data per repair offers bodyshops a tangible method to showcase their commitment to sustainability to their clients, which could be a unique selling proposition in a competitive market.

Financial Analyst

From a financial perspective, this partnership could have a positive impact on Axalta's market position. Integrating advanced sustainability metrics into their offerings can lead to increased customer loyalty and potentially higher sales, particularly among customers prioritizing sustainability.

By being the first coatings manufacturer to partner with Solera, Axalta sets itself apart from competitors, which can translate into increased market share. It also aligns with their long-term goal of achieving carbon neutrality by 2040, presenting a forward-thinking vision that could appeal to investors looking for companies with strong Environmental, Social and Governance (ESG) initiatives.

However, the financial benefits will likely be long-term as the market adapts to these new sustainability tools. It's important for investors to consider that while this partnership enhances Axalta's brand value, immediate financial gains might not be substantial.

This partnership reinforces Axalta’s commitment to sustainability.

PHILADELPHIA, May 21, 2024 (GLOBE NEWSWIRE) -- Axalta (NYSE: AXTA), a leading global coatings company, today announced a partnership with Solera, a global leader in vehicle lifecycle management. Through this partnership, Axalta’s conventional and Fast Cure Low Energy (FCLE) refinish paint systems will be integrated into Solera’s Sustainable Estimatics platform, enabling Axalta customers to estimate their CO₂ emissions per repair, while considering repair methods (repair versus replace), paint application process, and drying conditions.

As the first coatings manufacturer to partner with Solera, Axalta refinish customers will have access to a live dashboard that provides CO₂ estimates to help them make energy conscious, data-driven decisions. Solera’s Sustainable Estimatics platform is the latest addition to Axalta’s BELEAF offering which provides high performing eco-conscious products, innovative tools and optimal resources to help bodyshops reduce their environmental footprint while contributing to their business’ success. This resource highlights Axalta’s commitment to sustainability and the BELEAF initiative.

“We are excited to partner with Solera and introduce a new solution for our customers,” 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 providing a CO₂ emission estimate per repair, bodyshops can make data-driven decisions to help lower their carbon footprint while also benefiting their bottom line.”

Sustainable Estimatics for Paint makes it easy to estimate Scope 1, 2, and 3 CO₂ emissions, allowing organizations to present credible carbon emission figures backed by an ISO-14064-01 certified company. 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.

To learn more about Axalta’s sustainability initiatives, visit refinish.axalta.eu/beleaf.

About Axalta Coating Systems

Axalta is a global leader in the coatings industry, providing customers with innovative, colorful, beautiful, and sustainable coatings solutions. From light vehicles, commercial vehicles and refinish applications to electric motors, building facades and other industrial applications, our coatings are designed to prevent corrosion, increase productivity, and enhance durability. With more than 150 years of experience in the coatings industry, the global team at Axalta continues to find ways to serve our more than 100,000 customers in over 140 countries better every day with the finest coatings, application systems and technology. For more information, visit axalta.com and follow us on LinkedIn and @axalta on X.

Contact
Chelsea Quilty
267.216.5603
Chelsea.quilty@axalta.com
axalta.com

FAQ

What is the significance of Axalta's partnership with Solera?

The partnership integrates Axalta's refinish paint systems into Solera's Sustainable Estimatics platform, allowing customers to estimate CO2 emissions per repair and make data-driven decisions.

How will Axalta's partnership with Solera impact sustainability?

It will enable Axalta customers to estimate and reduce CO2 emissions, supporting the company's goal of achieving carbon neutrality by 2040.

What new features will Axalta customers have access to with this partnership?

Customers will have access to a live dashboard that provides CO2 estimates per repair, helping them make energy-conscious decisions.

What is Axalta's BELEAF initiative?

BELEAF is Axalta's offering of high-performing, eco-conscious products and tools designed to help reduce the environmental footprint of bodyshops.

What does the Sustainable Estimatics platform offer?

It allows for the estimation of Scope 1, 2, and 3 CO2 emissions, backed by ISO-14064-01 certification, helping organizations present credible carbon emission figures.