Ather To Launch A New Product Every Year

Ather Energy has raised around Rs 350 crore in a fresh round of funding. Speaking to ET Auto, the company revealed that it aims to achieve an annual sales target of 10 lakh units by 2024. To give you a perspective, the Honda CB Shine sold around 9.9 lakh units, Hero Passion about 9.1 lakh units and TVS Jupiter registered a sale of 7.88 lakh units - all in FY 2019.

Ather will start off with setting up a new plant which will be operational in 2020. At present, the startup is in talks with various state governments to set up a plant. In order to achieve the sales target, Tarun Mehta, Ather’s co-founder, revealed that it might launch a new product almost every 12 months, going forward.

The brand is also working on expanding to newer cities, starting with Chennai, which will be operational this month. This would be followed by the brand’s entry into the Pune market in the near future, and then Hyderabad, Delhi and Mumbai probably next year.

Also Read: Should You Buy Or Lease The Ather 450?

Ather’s plans don’t just end at new launches and entry into new markets. Since the electric mobility space is heavily dependent on charging infrastructure, Ather has set aside Rs 130 crore for this too. It will be making use of this amount to set up about 6500 charging stations across India by 2023. Mehta also revealed that there’s an opportunity of generating revenue through OTA software updates for their products. While at present, the updates are free and are mostly restricted to usability, expect paid performance updates in the future.

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