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Nio hits 120 million battery swaps, unveils 5th-gen stations, mulls Australia entry

Nio has passed 120 million total battery swaps and launched its fifth-generation Power Swap Stations, with swap times under three minutes, as it eyes a potential entry into the Australian market. The milestone comes less than six months after reaching 100 million swaps, highlighting the rapid growth of its battery-as-a-service model.