Feng Huang Wang·2025-10-16 11:28Core Viewpoint - The Singapore Government Investment Corporation (GIC) has filed a lawsuit against NIO, alleging that NIO inflated revenue and profits through a partnership with Wuhan Weinan Battery Asset Co., misleading investors and causing financial losses for GIC [1] Group 1: Lawsuit Details - GIC's lawsuit is based on allegations stemming from a short report published by Grizzly Research in June 2022, rather than recent operational developments of NIO [1] - NIO responded to the accusations from Grizzly Research by stating that the report was baseless, containing numerous errors, unverified speculations, and misleading conclusions [1] Group 2: Internal Review and Support - In August 2022, NIO announced the completion of an independent internal review regarding the short report, conducted by an independent committee with assistance from third-party professional advisors, including an international law firm and a well-known legal accounting firm, which found no wrongdoing [1] - Major financial institutions such as Deutsche Bank, Morgan Stanley, JP Morgan, and Daiwa Capital subsequently released reports supporting NIO and disputing the conclusions of Grizzly Research, indicating that the concerns raised about NIO's Battery as a Service (BaaS) model were misinterpretations of the relevant concepts and data [1]