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. 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. Jabil in a statement said if the deal is completed, the definitive agreement would enable it to "enhance our shareholder-centric capital framework, including incremental share buybacks", Chief Executive Officer Kenny Wilson said.
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. 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. Jabil in a statement said if the deal is completed, the definitive agreement would enable it to "enhance our shareholder-centric capital framework, including incremental share buybacks", Chief Executive Officer Kenny Wilson said.
The Biden administration's tariffs and new tech restrictions on China could cause some blowback to the U.S. economy as Beijing grapples with a serious slowdown.