$NIO Inc.(NIO)$ By the end of next year (2025), NIO has given a lot of forward guidance about their plans. NIO has plans to be in 25 countries (not sure that they will be able to get there, but fingers crossed), and have 5,000 battery swap stations (4,000 in China, and 1,000 throughout Europe). They also have plans to have 2 sub-brands to cover both the mid and lower mass markets. They will legitimately have products that sell from $15,000 USD, through $130,000 USD if you add some features to the iconic ET9.

Since NIO has plans to have BaaS (battery swapping as a service) in the lower priced cars, this will greatly appeal to the 94% of the people in China who live in apartments in China's big cities. Living in an apartment means you can't install a home charger, so a quick swap before or after work is much preferred over a search for a vacant AND WORKING charger, and waiting 1/2 hour to 45 minutes for your car to charge, 5-6 times a month.

These people will also appreciate that you can buy a car $8,000-$10,000 cheaper when you don't buy the battery, so you can afford a much nicer car, and you will retain a higher resale value when you sell your car since you aren't locked into a battery that is out of warranty and has lost significant range.

I can see the lower priced cars taking off in sales since there are few other options to buy a new EV that swaps the battery now.