On the evening of September 26th, BYD announced that its holding subsidiary BYD Electronics and Jabil Inc. Jabil Circuit (Singapore) Pte. Ltd. (referred to as "Jepp Singapore") signed the "Equity acquisition Agreement" (hereinafter referred to as the "formal Agreement"). BYD Electronics plans to acquire Jabil Inc for about 15.8 billion yuan in cash. Its mobile electronics manufacturing business, which produces components for consumer electronics, is mainly located in Chengdu and Wuxi. It is understood that this is the largest acquisition in the company's history.
The announcement shows that the seller has established a new legal entity Juno Newco Target Holdco Singapore Pte in Singapore. Ltd., also intends to reorganize the target business into the target company, and the buyer will acquire the target business mainly through the acquisition of 100% equity in the target company and Singapore assets.
According to the announcement, Jepp Singapore is a wholly owned subsidiary of Jabil Inc. (Jepp), a company listed on the New York Stock Exchange. Jepp is a veteran American manufacturing company and one of the top 500 companies in the world, with businesses in many industries, including medical, packaging, aerospace, automotive, communications, transportation, industry and other fields. Since entering China in 1999, Jepp has production bases and R & D centers in Beijing, Shanghai, Shenzhen, Guangzhou, Wuxi, Wuhan, Weihai, Tianjin, Suzhou and Chengdu.
BYD said that the acquisition will expand the boundaries between BYD electronic customers and products, broaden the smartphone parts business, and significantly improve BYD electronic customer and product structure. This transaction not only increases the market share of products, but also works effectively with BYD's existing products to enhance the company's overall competitiveness, maintain long-term sustainable development, and create value for customers and shareholders.
At the same time, the Ministry of Investment, Industry and Trade of Uzbekistan has signed an important investment agreement with BYD, according to its website. Under the agreement, BYD will set up a joint venture with the Uzbek state-controlled automobile group Uzavtosanoat JSC, called BYD Uzbekistan Factory, which will be responsible for the production of electric and hybrid vehicles. It is understood that the investment project will be divided into phases I, II and III, with an annual output of 50, 000 vehicles planned for the first and second phases, and an annual output of 300000 vehicles when the construction of the third phase is completed.
It is understood that BYD officially announced that the "passenger car going to sea" program began in 2021 and began to enter overseas markets on a large scale in the second half of 2022. In July 2022, BYD held a brand conference in Tokyo to announce its official entry into the Japanese passenger car market. In September 2022, BYD held an European new energy passenger car conference to launch Han EV, Tang EV and Yuan PLUS models to the European market, and debuted at the Paris Motor Show in October of the same year. In November 2022, BYD entered Brazil and held a press conference in Sao Paulo, Brazil, to launch the Song PLUS DM-i and Yuan PLUS models.
As BYD's first global model, Yuan plus (ATTO3) has topped the monthly sales list of pure trams in Thailand, Israel, New Zealand and Singapore, and won the top spot in Thailand in the first half of the year. As the overseas layout continues to deepen, BYD announced in July that it would build another production base in Brazil, after Thailand, with a combined annual production capacity of about 300000 vehicles.
So far, it has entered more than 50 countries and regions, such as Japan, Germany, Australia and so on. Among them, Europe alone has a footprint in 15 countries, with a network of more than 140 stores. In the first half of this year, BYD's overseas passenger car sales reached 74300, an increase of 96 per cent over the same period last year.
At the Munich auto show, BYD revealed that it would confirm the location of its first passenger car factory in Europe by the end of the year and expand its European dealer network to more than 200. According to the plan, BYD has a sales target of 3 million vehicles this year, of which overseas exports are expected to be 250000-300000 vehicles, equivalent to five times that of last year, and may reach 1 million vehicles next year.
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