$BYD COMPANY (01211.HK)$$BYD Co. (BYDDF.US)$$GWMOTOR (02333....

Chinese automakers dominated Southeast Asia's fast-growing EV market, selling three out of every four EVs in 1Q, research firm Counterpoint Research said.

Thailand - the main regional auto manufacturing hub - is driving the transition, with the country accounting for almost 79% of all EVs sold in Southeast Asia in 1Q, Counterpoint said.

"Chinese auto groups are experiencing rapid growth and outpacing their competitors in the Southeast Asia region, with their market share increasing from 38% a year ago to nearly 75%," Counterpoint analyst Abhilash Gupta said.

Across the region, the share of EVs in total passenger vehicle sales rose to 3.8% in 1Q, from 0.3% a year earlier, according to Counterpoint.

With Chinese EV offerings expanding, Counterpoint said the share of EVs as a percent of total vehicle sales in Southeast Asia could reach 6% by the end of 2023.