Varta AG, the German battery manufacturer based in Ellwangen, has applied to the Stuttgart Local Court to open insolvency proceedings under self-administration.
The company cited a structural funding gap expected from 2027 as the primary driver of the filing, rather than any immediate inability to meet payment obligations.
Varta said production is continuing and that employees will keep receiving their wages and salaries throughout the proceedings.
The company pointed to significantly worsening market conditions, weaker demand, and adverse exchange-rate movements as contributing factors to its deteriorating financial position.
Varta also cited “the decision of a key customer to terminate the partnership” as a…