On January 18th, Haitong International Securities Company recently released a research report proposing five major hypotheses for 2025. One speculation is that Xiaomi will acquire NIO, which will expand the range of NIO’s battery swapping applications and even open them to other car companies under patent protection. Haitong International also stated that this hypothesis and other hypotheses are based on understanding and analysis of technology, regulation, and competition, rather than predictions made based on sufficient evidence and information. On January 18th, Ma Lin, Vice President of Brand and Communication at NIO, responded to the speculation: “The speculation is purely fictional. NIO has been solidly engaged in battery swapping and has connected more than 700 cities across the country. Every additional battery swapping station has a positive impact on sales. Bin Ge has also recommended battery swapping models to Lei Junlei, and models from other battery swapping partner brands are also on the way. Indeed, Ningde Times, which understands batteries the most, has already adopted battery swapping models, and the value of battery swapping for electric vehicles has been recognized by the entire industry
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