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Ather Energy has announced plans to invest ?750 crore in research and development, aiming to strengthen its in-house software capabilities and secure a competitive edge in India’s burgeoning electric scooter market.
The company has heavily invested in developing a proprietary software ecosystem to enhance performance, add cutting-edge features, and establish software as a significant revenue stream. In FY 2023-24, software sales contributed 6% of Athers total revenue, with an impressive EBITDA margin of 56%, according to its draft red herring prospectus (DRHP).
Approximately 90% of Ather’s customers have adopted its advanced Atherstack features, and over 60% interact with its connected software functionalities weekly, the company revealed.
The Atherstack 6.0, launched earlier this year, offers 64 features spanning navigation, analytics, safety, and productivity. Highlights include WhatsApp integration on the dashboard, live location sharing, "Ping my scooter" functionality, automatic call response, and Alexa integration. Safety-focused features such as SkidControl, Emergency Stop Signal, and Fall Safe provide real-time rider assistance.
Ather’s R&D also prioritizes data-driven insights. The company leverages data collected from its app, electric two-wheelers, and charging infrastructure to refine performance and safety. Features like Trip Planner personalize the rider experience by optimizing commutes and charging based on driving patterns.
“By analyzing real-world data, we can continually enhance our products and services. For instance, virtual drive cycles based on customer data help improve range predictions,” the company noted in its DRHP.
With this investment, Ather aims to capitalize on the increasing importance of software in the electric vehicle space, where it plays a critical role in performance, safety, and user satisfaction. |
