Nio Denies Sued Writer's Claim of Bankruptcy Talks
Xu Wei
DATE:  Nov 14 2019
/ SOURCE:  yicai
Nio Denies Sued Writer's Claim of Bankruptcy Talks Nio Denies Sued Writer's Claim of Bankruptcy Talks

(Yicai Global) Nov. 14 -- Nio has refuted a self-media report that claimed that the Chinese electric carmaker is discussing liquidation with several law firms, and reported it to the police that will investigate the case, state-backed The Paper reported yesterday.

Liu Yue's latest WeChat article is misleading and damaging to Nio's reputation, the Shanghai-based company said in a statement on its Weibo account yesterday. The firm already has a case in the trial process against the author, it added.

Nio has been fending off bad news as in August, its President Qin Lihong told Yicai Global that the company is "cutting fat" by downsizing amid widening deficit. The company's [NYSE: NIO] share price has fallen from its March peak of over USD10 to close at USD1.90 yesterday.

Since early October, Liu has repeatedly disclosed details of the lawsuit online and fabricated information while trying to interfere with the investigation, Nio added. The car startup filed its lawsuit early in September.

Editor: Emmi Laine 

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Keywords:   NIO,Self-Media,NEVs,WeChat