What's Happening?
A Lexington-based robotic automation company, Kinemetrix, is expanding its facility with a $4 million investment, adding 12 new jobs. This expansion supports the automated manufacturing industry and the region's growing electric vehicle supply chain.
The company develops systems for robotic assembly of electric vehicle components and other technologies. The expansion began in January 2024, aiming to double business capacity and increase revenues by over 50% since 2023. The company will employ 55 people at its Lexington location after the expansion.
Why It's Important?
Kinemetrix's expansion is significant for the local economy and the broader electric vehicle industry. By increasing its capacity, the company is better positioned to meet the demands of the growing electric vehicle market, which is a key focus for economic development in Kentucky. This expansion contributes to job creation and economic growth in the region, aligning with state initiatives to support advanced manufacturing and electric vehicle projects. The investment reflects confidence in the region's potential as a hub for innovation and manufacturing.
What's Next?
Following the expansion, Kinemetrix is expected to continue developing its internal teams and robotic assembly technology. The company aims to further increase its capacity and support the manufacturing ecosystem in Kentucky, Tennessee, and Ohio. Stakeholders, including state officials and industry leaders, will likely monitor the company's progress and its impact on the regional economy. Future growth may involve additional investments and collaborations to enhance the company's capabilities and market reach.
