Schleswig-Holstein secures 75 million for Northvolt's future!

Schleswig-Holstein secures 75 million for Northvolt's future!

Uncertainty, but also hope: The takeover of the insolvent battery manufacturer Northvolt by the US manufacturer Lyten is just around the corner. In Schleswig-Holstein, intensive attention is being paid to the future of the company, whose German locations are located in Lohe-Rickelshof and Norderwöhrden in the Dithmarschen district. How NDR reports, the country plans to release an additional 75 million euros for Northvolt in order to avert the insolvency of the German subsidiary. So far, around 336 million euros of a total of 600 million euros in federal and state loans have already been used.

The remaining amount of around 264 million euros is currently blocked. It is hoped that the new funds will secure 189 million euros. A spokeswoman for the Federal Ministry for Economic Affairs and Energy has not yet commented on the financial support measures, which further increases the uncertainty on the part of the state government.

Takeover and challenges

The threatened insolvency of Northvolt, which occurred in March 2025, also brought risks for government funding. daily news emphasizes that the takeover of all remaining locations by Lyten is necessary not only to minimize liabilities, but also to ensure future production, especially at the planned factory near Heide. Lyten took over a large factory in California in November 2024 and plans to integrate the locations in Gdansk, Poland, as well as the main factory in Sweden into its own ranks.

However, regulatory approvals in Sweden, Germany and the EU are still required to complete the acquisition. Prime Minister Daniel Günther is satisfied with the progress, but warns of the remaining challenges that need to be overcome. Lyten, on the other hand, is optimistic and hopes to complete the acquisition in the fourth quarter of 2025.

Loan opportunities and repayments

The situation remains tense. After the bankruptcy, the federal and state governments had to make repayments to the Kreditanstalt für Wiederaufbau. The tax money originally invested is considered lost. However, a loan guarantee from the federal and state governments, each of which guarantees half of the 600 million euro loan, could be crucial for the future if Northvolt is able to get back on the road to recovery as an operating company.

The developments surrounding Northvolt not only cause nervousness, but also a certain amount of anticipation, because as a beacon of hope for the European automotive industry, the return to normality could also have positive effects on the entire region. It could soon become clear whether the new funds from Schleswig-Holstein and the takeover by Lyten will bring the company into more stable waters. Time is running out for decisions and which way the wind blows could have a decisive impact on the local economy.