How GIC's lawsuit reframes scrutiny over Nio's revenue model

Group 1 - Singapore's sovereign wealth fund, GIC, has initiated legal proceedings against Chinese electric vehicle manufacturer Nio Inc. [1] - The lawsuit alleges that Nio inflated its revenues through complex accounting practices associated with its battery-swap business [1] - The legal action was filed in August in the Southern District of New York and targets Nio, its CEO Li Bin, and former CFO Feng Wei [1]