Northvolt Insolvency Sparks Scrutiny Over Government Transparency

The Swedish battery manufacturer's collapse leaves the future of its German subsidiary in question as Schleswig-Holstein faces financial and political fallout.

• Northvolt's insolvency proceedings in Sweden have begun, with its German subsidiary overseeing the Heide battery factory continuing operations for now.
• The Schleswig-Holstein government is under criticism for withholding known financial risks from parliament regarding its €600 million loan guarantee for the project.
• Former Economics Minister Bernd Buchholz revealed that doubts about the project's financial viability were documented in late 2023 but not disclosed to parliament.
• The federal and state governments each face potential losses of up to €300 million due to Northvolt's financial collapse.
• The future of the Heide battery factory depends on decisions by the insolvency administrator, with calls for new investors to sustain the project.

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