Northvolt on the abyss: bankruptcy and 600 million euros in danger!

Northvolt on the abyss: bankruptcy and 600 million euros in danger!

The Swedish battery manufacturer Northvolt has now applied for bankruptcy, which has triggered concern about the 600 million euros invested in the construction of a new factory in Heide (Dith Dithmarschen). This sum, which was provided by the KfW as a convertible bond, is half secured by the federal government and the state of Schleswig-Holstein, such as ndr reported. Experts observed the handling of Northvolt's financial difficulties, which include debt of almost six billion euros.

In total, more than 21,000 pages on Northvolt files are classified as a "clasp". Only selected MPs can see them under strict requirements. Among other things, the files contain discussion protocols with the advisory company PricewaterhouseCoopers (PWC), which has created reports for the Federal Ministry of Economics. PWC itself is one of the creditors of Northvolt and demands around $ 1 million. However, the Federal Ministry of Economics and Climate Protection (BMWK) has emphasized that conflicts of interest are excluded.

uncertain future of the factory in Heide

Minister of Economics Claus Ruhe Madsen (CDU) has promised to ensure the greatest possible transparency and plans to publish cabinet templates with blackening. Madsen describes the Situation as "dance on a blade" and is on March 21st. Travel to Sweden to meet the insolvency administrator Mikael Kubu to clarify the future of the factory in Heide. Despite ongoing activities on the construction site, however, it is unclear whether the construction of the factory can actually be continued as planned, such as Süddeutsche reported.

The uncertainties caused by the bankruptcy could have a significant impact on the planning of the creation of jobs in a structurally weak region. Prime Minister Günther (CDU) is optimistic about the future of the location in Heide, while the opposition remains skeptical. In addition, Schleswig-Holstein has to repay the federal government of 300 million euros, which could further increase the country's debt.