The FootPrint Coalition is reporting on a startup working on EV repairs.
The article discusses a significant shift in the electric vehicle (EV) industry, highlighting that while Teslas and other EVs are becoming more affordable, often cheaper than traditional gas-powered cars, their repair costs remain prohibitively high. A 2022 Forbes analysis indicated that repairing an EV can be more expensive than purchasing a new gas car. This is largely due to the complex nature of EVs, which include sophisticated drive trains, numerous sensors, and advanced computing and self-driving features. Kinetic, a Santa Ana, California-based startup, is addressing this challenge. Recently emerging from stealth mode with $10 million in Series A funding, Kinetic has launched EV service hubs in Orange County and Las Vegas, focusing on repairing EVs using artificial intelligence, robotics, and innovative software, particularly for sensor repairs. As EVs are expected to comprise 20% of new car sales this year, addressing high repair costs is crucial for the industry’s growth. Kinetic, co-led by Lux Capital and Construct Capital, aims to revolutionize the repair infrastructure for EVs, integrating their technology with repair shops and dealerships and planning collaborations with fleet operators. Their AI-enabled solution is reportedly ten times better than existing industry standards.
Source: The FootPrint Coalition
(This article was written with assitance from ChatGPT)