evee Central

EV maker BYD buys US firm Jabil’s China manufacturing unit for $2.2 billion

-Electric vehicle maker BYD Co Ltd said on Monday its unit struck a deal with U.S.-based manufacturing firm Jabil Inc’s Singaporean unit to buy its product manufacturing business in China for 15.8 billion yuan ($2.17 billion).

The deal will expand BYD Electronic (International) Co’s (BE) customer base, product portfolio, and expand its business of smartphone components, and boost its growth as it looks to capture the potential growth in the sector.

Jabil Circuit (Singapore), which manufactures printed circuit boards, established a unit this month with product manufacturing business in Chengdu and Wuxi, which will now be sold to the Chinese EV maker.