Electric vehicle demand in the U.S. is on the rise, but the growth rate for environmentally friendly cars has slowed down in 2024. One of the reasons for this slowdown is the high cost of insurance and repairs for these new, technology-rich models. According to a 2024 study by J.D. Power, only 26% of car buyers in the U.S. are very likely to consider purchasing an electric vehicle in the next year, while more than 20% are very unlikely to consider it at all.
To address this issue, Kinetic Automation, a startup based in Santa Ana, California, has developed a robotic system that aims to decrease the costs associated with owning and repairing electric vehicles. The company, which currently employs around 40 full-time staff members, uses computer vision and machine-learning software to quickly diagnose problems with a vehicle’s digital systems.
Kinetic’s CEO and co-founder, Nikhil Naikal, highlighted the fact that many new models, especially battery electric vehicles, come equipped with advanced features such as touchscreens, infotainment software, cameras, and sensors. While traditional collision repair centers can handle physical repairs like replacing bumpers or windshields, dealing with the digital components of these modern vehicles can be time-consuming and expensive.
Kinetic’s robotic system works by scanning a customer’s car with machine vision sensors to identify which systems need programming or recalibration. The company’s software is then used to initiate and track the completion of these fixes, helping to reduce repair times and costs for customers.
To support its growth, Kinetic has secured $21 million in funding through a Series B round led by Menlo Ventures, with participation from Allstate Strategic Ventures and Liberty Mutual Strategic Ventures. The company plans to expand its service hubs across the U.S. and eventually offer its services to robotaxi fleets and owners of autonomous vehicles.
Currently, Kinetic has been working on popular electric vehicle models like the Ford Mach-E, GM Chevy Bolt, Hyundai Ioniq EVs, and some Teslas at its existing service hubs. With the increasing sales of electric vehicles in North America, there is a growing need for efficient and cost-effective repair solutions in the market.
In conclusion, Kinetic Automation’s innovative robotic system has the potential to revolutionize the way electric vehicles are repaired, making it more convenient and affordable for owners to maintain their cars. By leveraging technology and automation, Kinetic is paving the way for a more sustainable and accessible future for electric vehicle ownership in the U.S.