FILE PHOTO-Security guards stand at the BYD booth at the Auto Shanghai show, in Shanghai, China April 19, 2023.
REUTERS/Aly Song/file photo Acquire Licensing RightsAug 28 (Reuters) - Electric vehicle maker BYD Co Ltd (002594.SZ) said on Monday its unit struck a deal with U.S.-based manufacturing firm Jabil Inc's (JBL.N) 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.
($1 = 7.2890 Chinese yuan renminbi)Reporting by Sameer Manekar in Bengaluru; Editing by Muralikumar Anantharaman and Rashmi AichOur Standards: The Thomson Reuters Trust Principles.
Persons:
Aly, Jabil, BYD, Sameer Manekar, Muralikumar Anantharaman
Organizations:
Security, Auto, REUTERS, BYD, U.S, Jabil Circuit, Thomson
Locations:
Auto Shanghai, Shanghai, China, Singapore, Chengdu, Wuxi, Bengaluru