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Attendees look at the next generation battery swapping station from China-based CATL, the world's largest maker of batteries for electric vehicles, before a launch presentation held in Xiamen, southern China's Fujian province on Wednesday, Dec. 18, 2024. (AP Photo/Ng Han Guan)

Attendees look at the next generation battery swapping station from China-based CATL, the world's largest maker of batteries for electric vehicles, before a launch presentation held in Xiamen, southern China's Fujian province on Wednesday, Dec. 18, 2024. (AP Photo/Ng Han Guan)

Robin Zeng, the CEO of China-based CATL, the world's largest maker of batteries for electric vehicles, speaks at a launch event for the next generation of swap stations held in Xiamen in southern China's Fujian province on Wednesday, Dec. 18, 2024. (AP Photo/Ng Han Guan)

Robin Zeng, the CEO of China-based CATL, the world's largest maker of batteries for electric vehicles, speaks at a launch event for the next generation of swap stations held in Xiamen in southern China's Fujian province on Wednesday, Dec. 18, 2024. (AP Photo/Ng Han Guan)

A first generation battery swapping station by China-based CATL battery manufacturing company, is seen in Xiamen, Fujian province, China, Wednesday, Dec. 18, 2024. (AP Photo/Ng Han Guan)

A first generation battery swapping station by China-based CATL battery manufacturing company, is seen in Xiamen, Fujian province, China, Wednesday, Dec. 18, 2024. (AP Photo/Ng Han Guan)