Nio founder and CEO William Li said on Wednesday the EV maker will fall short of its 2025 target for new battery swap stations in China as it shifts resources toward a next-generation system. “Mainly because we have to think about deploying the fifth-generation stations,” Li said. So our fifth-generation station is a completely new design,” the CEO added. “The fifth-generation battery swap station is a highly compatible and intelligent battery swap station, and it can be said to be the ultimate goal of our battery swap strategy,” the executive said at the Chengdu Auto Show. As of Friday, Nio operated 3,488 battery swap stations in China and said its network has delivered more than 85.6 million swaps.