Chinese carmaker BYD buys US firm Jabil’s mobility business for USD 2.2 bn

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

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