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Günther takes responsibility: Northvolt's future in danger!
Prime Minister Günther takes responsibility for errors at the Northvolt system in Schleswig-Holstein. Current status and future uncertain.
Günther takes responsibility: Northvolt's future in danger!
What's going on with Northvolt? The Swedish battery manufacturer, which is considered the European counterpart to many leading Asian companies, has filed for bankruptcy. This news came like a bang and not only alarmed the auto industry in the EU, but also affected work on the planned factory in Heide, Schleswig-Holstein. Prime Minister Daniel Günther has now commented on the developments and errors surrounding the project.
At a small party conference of the CDU Schleswig-Holstein in Kiel, Günther defended the company's state funding. He expressly took responsibility for the mistakes made when setting up Northvolt. “These errors are not the responsibility of administrative employees, but of me as Prime Minister,” said Günther. He describes the decision for Northvolt as a political one that he himself bears. In the political debate, the SPD and FDP called a parliamentary unification committee on June 12th to receive unredacted files from the state government.
Current developments at the Heide location
Construction work on the Northvolt factory in Heide is progressing despite the bankruptcy in Sweden, albeit with less momentum than desired. Civil engineering work for the power supply is currently underway and the fencing of the 110 hectare factory site is also continuing. “The decision to support the development of battery production in Germany was the right one,” emphasized Günther. He was determined to keep battery production in Schleswig-Holstein and is pleased with the progress, despite the uncertain future of the project.
According to the current status of the construction site, the foundation work and earthworks as well as the construction of a rain retention basin have already been completed. In addition, the planting of a privacy wall with 20,000 trees and bushes was completed at the end of March. However, construction of the factory buildings will only begin once the perspective of the project and the investor have been clarified. Experts are now emphasizing how that State Ministry and Economics Minister Claus Ruhe Madsen that the infrastructure in Heide remains sustainable and there are signs of great demand for electric car batteries by 2030.
The economic challenges for Northvolt
Northvolt's bankruptcy is seen as the result of a profound financial crisis caused by rising capital costs, geopolitical crises and weak demand for electric cars. While Northvolt's German subsidiary is not directly insolvent in Germany, it is still subject to the control of the Swedish insolvency administrator. “We have to be careful that the repayment of the 900 million euros in support that was promised to Nordvolt is not jeopardized,” says a federal spokesman.
With debts of almost 5.7 billion euros and a quarter of the workforce already laid off, Northvolt is under great pressure. Even if demand for batteries in the EU could increase in the future, the future of the factory in Heide remains uncertain. However, Federal Minister of Economics Robert Habeck has expressed his support for the plant and is working closely with federal ministers and other stakeholders on possible solutions.
Whether Northvolt's German subsidiary is able to exist as a stable part of the battery industry in the long term depends crucially on finding new investors and the future direction of the company. The coming months will show whether there can be a positive turnaround for battery production in Schleswig-Holstein.