BYD pays US$2.2bil for Jabil’s China plants

FILE PHOTO: 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/File Photo

BEIJING: The electronics arm of electric-vehicle (EV) maker BYD Co agreed to buy Jabil Inc’s manufacturing business in China for 15.8 billion yuan (US$2.2bil), expanding its reach in mobile devices.

BYD Electronic International Co, a non-wholly owned unit of China’s BYD, is taking over the US company’s product manufacturing business located in Chengdu and Wuxi, China, it said in a statement yesterday.