From our own Stef Schrader:
https://www.thedrive.com/news/37886...-of-faking-sales-to-get-160m-in-us-investment
TL;DR (but seriously, go read her breakdown of the alleged fraud scheme and Hindenburg's potential bias) - Chinese EV startup Kandi "sold" vehicles to themselves to draw investors. The allegations are from the same group that broke the Nikola story, and under similar circumstances - they shorted the stock before releasing their allegations and stand to profit from the company tanking.
https://www.thedrive.com/news/37886...-of-faking-sales-to-get-160m-in-us-investment
TL;DR (but seriously, go read her breakdown of the alleged fraud scheme and Hindenburg's potential bias) - Chinese EV startup Kandi "sold" vehicles to themselves to draw investors. The allegations are from the same group that broke the Nikola story, and under similar circumstances - they shorted the stock before releasing their allegations and stand to profit from the company tanking.