KIEL (dpa-AFX) - The FDP parliamentary group in the Schleswig-Holstein state parliament wants to obtain further clarification on the financial obligations at battery manufacturer Northvolt by means of parliamentary questions. "We expect the state government to provide us with a detailed breakdown of the state government's knowledge of the risk assessment of the convertible bond at what point in time and how it was involved in the review process," said parliamentary group leader Christopher Vogt.

In the Finance Committee on Thursday, the state government made it clear that it intends to shoulder the financial burden of the crisis at Swedish battery manufacturer Northvolt with additional debt. This involves 300 million euros, which the state has assumed as a deficiency guarantee and must now pay to the federal government. The state aid is for the construction of the battery factory in Heide.

State funds are at stake

Northvolt has filed for reorganization proceedings under US insolvency law. This also puts around 600 million euros at stake, which Northvolt has received from the state-owned KfW development bank and for which the federal and state governments each guarantee half.

Among other things, the FDP parliamentary group wanted to know how long the state government had known about Northvolt's operational and financial difficulties. According to the latest court documents, Northvolt already had a net loss of 1.2 billion dollars in 2023 and significant production problems. "We are therefore interested in whether this was adequately taken into account in the audit of the company," said Vogt./moe/DP/ngu