MartinBrown
08-03

$Tesla Motors(TSLA)$ Nio

At an 80 percent BaaS adoption rate, every new vehicle delivered becomes a compounding, multi-year cash annuity.

BaaS is Battery as a Service.

The chart tracks the compounding monthly recurring revenue, or MRR, generated solely by the new 2026 vehicle cohort as they enter the fleet, assuming linear monthly deliveries.

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