this infrastructure easily and quickly and they have very population—dense cities. but i'm not sure whether the model will work in the west, and especially in places like the us. if you think about it, when you're buying an electric vehicle, 40% or so of the cost is the battery. so how can we better make use of that asset is a really key point, and battery swapping enables you to reduce that upfront cost for the consumer. and, henry, let me end on this. in ten years�* time, where are we at with battery technology? i think, in ten years�* time, we could see batteries based on more sustainable, abundant materials. we�*re going to see a lot more recycling as well. we should have a closed—loop model where we�*re recycling many of the raw materials that we have already dug up and mined to make electric vehicle batteries. henry sanderson, the executive editor of benchmark mineral intelligence, great to have you with us. thanks for your time. thanks very much for having me.