Northvolt under pressure: fraudulent financing and political consequences!

Northvolt under pressure: fraudulent financing and political consequences!

in Schleswig-Holstein is currently all about the plans of the battery manufacturer Northvolt, whose fate has recently been brought into a negative light by a report by the Federal Audit Office. Politicians are now calling for clear perspectives for the project, which is considered crucial for Germany's independence in battery cell production. In the opinion of many decision -makers, the assessment of the Northvolt's situation, which was optimistic about the state of the Federal Ministry of Economics, then many decision -makers, did not withstand the realities. According to the [NDR] (https://www.ndr.de/nachrichten/schleswig-holstein/schleswig-holstein-aktuellsten-nachrichten-im-ueberblick ,News-104.html), the Ministry granted loans in a three-digit millions for the construction project in Heide. But the future is uncertain: an investigation committee is required to illuminate the background.

But what is really behind the scenes? Northvolt, as one of the leading actors in lithium-ion battery cell production, has great potential. The company intends to produce battery cells in Heide for up to a million electric cars annually. Interest is even extensive beyond the national borders, since Germany cooperates closely with other EU member states when setting up its battery cell production, as the BMWK. Common battery innovations are promoted via two IPCEIS (important projects of common European interest).

risks and challenges

The rise of Northvolt was not unproblematic from the start. Dirk Christian Dohse from the Institute for the World Economy noted that there were warning signals early on that should not be ignored. For example, Volkswagen, the largest shareholder in Northvolt, had devalued his shares in 2024 until 2025. Doubts about the financing of convertible bonds and funding have already been lived in the Schleswig-Holstein Ministry of Economic Affairs and Finance, and the state government asked 2023 critical questions to the Federal Ministry of Economics regarding the financial risks.

But why were these warnings not taken more seriously? Oppositional politicians such as Kianusch Stender (SPD) and Bernd Buchholz (FDP) are concerned about the orientation of the state government on the report of PricewaterhouseCoopers (PWC). It is also surprising that despite all the skepticism, the civil engineering work and infrastructure measures continue in Heide, and the hope for a new investor in the region will not be given up.

status quo and follow

The news about the bankruptcy of Northvolt in Sweden and the application for creditor protection in the United States have let the waves go up again. While the production facility in Heide is not officially affected by bankruptcy, production in the main work in Skellefteå is only throttled. Schleswig-Holstein's Prime Minister Daniel Günther (CDU) has now taken on responsibility for the wrong decisions and is committed to the location and its importance for battery production in the country.

In the meantime, there are other topics that determine the agenda of the Schleswig-Holstein state parliament. Smaller political steps, such as the ban on mobile phone use up to 9th grade in schools and the defusing of a World War II bomb in Kiel, are also the focus. Despite all the challenges, the path to strengthen battery production and the associated innovations in the region remains of great importance, as different politicians emphasize.

It remains to be seen which specific steps will be taken next to cope with the challenges of Northvolt and lead the location in Heide to a successful future.