Varta Files for Bankruptcy After Losing Contract with Apple
The German battery manufacturer Varta has filed for insolvency due to a financial crisis triggered by the loss of its contract with Apple. Varta AG's CEO, Michael Ostermann, stated that the company is facing significant challenges and anticipates a structural funding gap starting in 2027. Production continues, and employees are receiving their salaries as usual. The Varta Consumer Batteries division is not subject to the bankruptcy proceedings; however, three subsidiaries—Varta Microbattery, Varta Micro Production, and Varta Storage—have filed separate insolvency petitions. The crisis has been exacerbated by a deteriorating market situation and declining demand, with Apple's decision to halt purchases of CoinPower batteries for AirPods being a decisive blow. Shareholders, including Porsche AG and Michael Toigner, have refused to provide additional funding.
-- Price
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