According to a Bloomberg report citing sources familiar with internal discussions, Thai Summit Group is exploring a potential sale as global EV adoption pressures legacy auto suppliers. The consideration comes as succession challenges and political instability further complicate the outlook for the family-owned firm.
Investment banks have recently approached the Juangroongruangkit family, which controls the largest automotive parts producer in Thailand, proposing a transaction that could value the business between US$1.5 billion and US$2 billion, the sources said. The company has not yet selected a financial adviser, and the sale process remains in an early phase.
The source noted that global players—including CVC Capital Partners, Warburg Pincus, and Blackstone—have been suggested as prospective bidders by banks, though no direct offers have been made.
Founded by Pattana Juangroongruangkit, Thai Summit has played a pivotal role in Thailand’s automotive supply chain for decades. Meanwhile, the family found it difficult to designate a new leader for the group after Pattana passed away in 2002.
Notable figures from the Juangroongruangkit family include Suriya Juangroongruangkit, a veteran Thai politician who recently worked as the Deputy Prime Minister and Minister of Transport, Pongkawin Jungrungruangkit, who recently worked as the Labour Minister, and Thanathorn Juangroongruangkit, the founder of the Future Forward Party.
The scarcity of Southeast Asian firms of a comparable scale coming to market has increased bankers’ interest in a possible sale. One Wall Street bank valued the company at up to US$2.8 billion in 2024, although earlier talks ended as family members could not reach a consensus. More recently, competition from electric vehicle makers has compressed profit margins and may reduce potential valuations.
Sources indicate Thai Summit delivers annual revenue above US$2.6 billion and over US$250 million in EBITDA, employing more than 20,000 people in Thailand and operating manufacturing sites in China, Japan, and India.
According to the Federation of Thai Industries, Thailand’s auto market continues to advance, with EVs accounting for 45% of vehicle deliveries in 2025 and total car production projected at 1.5 million units for 2026.
