Smartphone maker Xiaomi planning to sell electric vehicles in India: All we know so far


The filing says that Xiaomi may sell its upcoming products in India through online and offline modes. The company also has plans to enter payments bank business.

Renowned smartphone maker Xiaomi after its stellar success in India, now has plans to enter the electric vehicle space in the country. The company arrived in India as a smartphone maker back in the year 2014 with their brand Mi. The Chinese brand recently made a regulatory filing in which it has expressed its intentions to enter the country's electric vehicle segment and payments bank business. The filing also says that Xiaomi may sell its upcoming products in India through online and offline modes. In a recent filing with Registrar of companies (RoC), the brand has stated that it is willing to sell "all types of vehicles for transport, conveyance and other transport equipment, whether based on electricity or any other motive or mechanical power, including the components, spare parts". As already mentioned, it's not just the automotive sector, which Xiaomi is eyeing but the company has also said that it wishes "to carry on the business of nonbanking financial companies, payments bank, leasing and financing, other financial services, payment gateway and settlement systems operators, mobile virtual network operators".
Source: financialexpress

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