Billionaire family considers selling auto part maker Thai Summit for $2B

Several global investment banks have recently renewed proposals to the Juangroongruangkit family, regarding a possible divestment that could value the business at between $1.5 billion and $2 billion, sources told Bloomberg.

Auto parts inside a factory of Thai Summit Group. Photo courtesy of the company

The founding family, which developed the company into a cornerstone of Thailand’s auto industry over several decades, has faced difficulties naming a successor after founder Pattana Juangroongruangkit died in 2002.

A Wall Street bank valued a possible sale in 2024 at up to $2.8 billion, but discussions did not progress beyond the pitching phase because of differing family interests, one of the sources said.

Rising electric vehicle competition is now pressuring margins and is expected to weigh on valuations.

The company produces more than $250 million in earnings before interest, taxes, depreciation and amortization on annual revenue exceeding $2.6 billion, and employs over 20,000 people nationwide. It also operates factories in countries including China, Japan and India.

Thailand’s automobile sales climbed to a two-year high in 2025, driven by electric vehicles, which made up 45% of deliveries.

Vehicle production is projected to reach 1.5 million units in 2026, largely unchanged from last year, according to figures released last week by the Federation of Thai Industries.