The Nio logo is seen astatine the Nio booth astatine the National Exhibition Center successful Shanghai, China, connected April 28, 2025, during the Shanghai Automobile Show 2025.
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Hong Kong-listed shares of Nio plunged implicit 12% aft Singapore's sovereign wealthiness money sued the Chinese electrical conveyance shaper for allegedly violating securities laws by inflating its revenues.
The suit named Nio's CEO Li Bin and erstwhile Financial Officer Feng Wei arsenic defendants, according to a court papers filed successful August successful the Southern District of New York court.
Shares of Nio connected the Singapore Exchange tumbled implicit 9%.
CNBC has reached retired to GIC and Nio for remark and is waiting for their response.
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