IMO if technology progresses and we can get rapid charging times close to 10 minutes or less, battery swapping technology will become entirely moot.
My prediction is that NIO will have to sink a lot of cost into this technology to build all the swapping stations and have all the spare packs available, and that will likely be its downfall. If you think I'm being silly, then please consider that NIO is the same company that invested in having yoga lessons at its dealerships[0], which seems like WeWorks-level stupidity to me. This company does not know how to deploy capital in a lean and effective manner IMO.
[0] https://cnevpost.com/2022/12/17/nio-opens-first-nio-house-in...