$NIO Inc.(NIO)$ $NIO-SW(09866)$ NIO just added 5 swap stations, as shown on the NIO POWER website, and now has 2,700 stations. The network expansion has accelerated considerably in the last three months. It is currently reaching 58 million swaps... and in 2025 it could reach 100 million swaps, an increase of 40 million in one year. At a rate of 3.33 million per month. It is difficult to establish a profit ratio as long as the network continues to expand. NIO's official website says: By 2025, we have set a goal of locating more than 4,000 battery swap stations around the world, 1,000 of them outside of China. If are talking about 3,000 stations for China, that would leave 300 more stations for the local market. If 40 million new swaps are established in the next twelve months... which would represent about 3,333,000 per month (currently 2.5 million)... the number of exchanges would approach 40 daily swaps per station... much closer to the break-even point.