BYD said its electronics unit has struck a deal with U.S.-based manufacturer Jabil to buy its mobile electronics manufacturing business in China for 15.8 billion yuan ($2.2 billion).
The deal will expand BYD Electronic's customer base, product portfolio and its smartphone components business as it looks to capture Jabil's potential growth in the sector.
Singapore-based Jabil Circuit, which manufactures printed circuit boards, established a unit this month that absorbed its product-manufacturing businesses in Chengdu and Wuxi, which will now be sold to the Chinese group.