If I understand it correctly, serial connection of BMS and/or balancers (for HV batteries) will decrease a number of cell inputs by one per each added BMS.

According to the picture, the battery cell B24 is balanced by Balancer 1 and also Balancer 2.

As a result of this, for battery cell B48 there won’t be free balancing input on the Balancer 2 and must be assured by Balancer 3.

The total number of balanced cells with several balancers is:

No. of cells = (24 x N) - N + 1 ; where N is a number of balancers.

So, for 96 cell battery five balancers (24S) would be needed.

Am I right?