Investment & Risk - GIC, a sovereign wealth fund managing hundreds of billions of US dollars, is suing NIO, marking the first time it has taken such action against a Chinese company listed overseas [1] - GIC accuses NIO of financial fraud, specifically using accounting practices to recognize future revenue of $600 million upfront [1] - The lawsuit raises concerns about potential financial irregularities within the broader electric vehicle industry, questioning the financial health of numerous companies [1]