Chinese electric carmaker BYD has announced that its electronics subsidiary has entered into a deal to acquire US-based electronics manufacturer Jabil’s electronics manufacturing business in China for USD2.2 billion (RM10.24 billion). Specific details about the deal have not yet been disclosed.
Jabil Circuit, which is based in Singapore and manufactures printed circuit boards, established a unit that absorbed its product-manufacturing businesses in Chengdu and Wuxi, and this will now be sold to BYD. The acquisition, should it go through, will expand BYD Electronic’s (BE) customer base, product portfolio and its smartphone components business, Reuters reports
Although now better known for its EV business, BYD started out by selling electronic components. Its electronics unit sells electronic components for consumer electronics products such as smartphones and laptops.
The upcoming acquisition serves as a reminder that BYD does more than just build EVs, an analyst told the news agency. The company first entered the automotive industry in 2003 when it acquired Nanjing-based automaker Qin Chuan, which held a permit for car manufacturing. It launched its first car model three years later.
As for Jabil, the company said that the deal would it to further invest in electric vehicles, renewable energy, healthcare, AI cloud data centers and other end-markets.
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