Chinese smartphone maker Xiaomi has made a filing with the Registrar of Companies (RoC) in India which offers an insight into its roadmap for expansion in India which includes plans to sell electric vehicles, laptops and set up a payments bank. In a statement to Medianama, a Xiaomi spokesperson said, "I would like to clarify that the regulatory filings from Xiaomi only indicate a change in the objects clause of Xiaomi’s memorandum of association to detail any product which Xiaomi might choose to launch and sell in India in the future. This is not an application for a license or a permission to introduce these product lines." This was first reported by the Economic Times. The publication said that the Beijing-based company said it can potentially 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." Entry into payments banks The filings also highlight the company's interest in the financial services sector. ET reports, the company said it wants "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 operator". In the consumer electronics space, the company is reportedly looking to expand its portfolio and sell laptops, video game consoles, computer accessories and network equipment. It also wants to manufacture and sell merchandise like t-shirts, toys, and backpacks. Shashi adds: Note that Paytm and ICICI Banks…
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