Nio's stock is cratering after the EV company was accused of fraud — again

Core Viewpoint - Nio is facing a lawsuit from Singapore's sovereign wealth fund, alleging that the company inflated its financial figures [1] Company Summary - The lawsuit claims that Nio, a Chinese electric vehicle manufacturer, manipulated its financial data to present a more favorable performance [1] Industry Summary - The case highlights ongoing scrutiny and legal challenges faced by electric vehicle manufacturers, particularly those based in China, regarding their financial reporting practices [1]