The SPD Query: Examining Günther's Part in Northvolt's Finances Amidst Insolvency
Spotlight on Günther's Part in Northvolt's Marketing Campaign - Günther's Importance in Northvolt's Operations
In the heat of Northvolt's financial turmoil, the SPD is casting a critical eye on Minister President Daniel Günther (CDU) of Schleswig-Holstein. "The Minister President carries a share of responsibility and must cooperate during the ongoing examination," stated SPD financial expert Kianusch Stender. In response to a state parliamentary question, the government has two weeks to respond in writing.
"A complete and thorough investigation of Northvolt's case should undoubtedly delve into the Minister President's role," Stender declared. Eerily silent around Günther, the opposition has scrutinized multiple thousands of pages in the course of document retrieval, yet "his role in the Minister President was found to be virtually non-existent on these pages."
The SPD seeks answers concerning Günther's part in the decision to bypass the state's assessment of the settlement, and his stance on the PwC audit review commissioned by the federal government.
Northvolt, battling bankruptcy in Sweden on March 12, is leaving uncertainties about the factory's future construction in Heide and the financial implications for Germany. In 2020, the federal government pledged to secure a financing tranche of over 525 million US dollars for Northvolt, with an 80% guarantee, to bolster the German auto industry's battery supply. Additionally, Northvolt received around 600 million euros from the state-owned development bank KfW for construction in Schleswig-Holstein—with the federal and state governments dividing the convertible bond equally, plus an additional 20 million euros for interest and procedural costs. Sources reveal that more than half of the convertible bond has already been utilized.
Moreover, the EU Commission granted direct funding of roughly 700 million euros (137 million euros from the state, 564 million euros from the federal government), conditional on payments beginning in early 2024. The allocated funds haven't been transferred as of yet.
- Northvolt
- SPD
- Daniel Günther
- Investigation
- PwC Audit Review
- Schleswig-Holstein
- Insolvency
- CDU
- The SPD calls for a comprehensive investigation into the role of Minister President Daniel Günther (CDU) of Schleswig-Holstein in Northvolt's affairs, particularly concerning the bypassing of the state's assessment of the settlement and the PwC audit review commissioned by the federal government.
- Stage Parliamentary questions have been put forth by the SPD, requesting a written response from the government within two weeks regarding Günther's involvement in these matters, as Northvolt's insolvency leaves uncertainties about the factory's future construction in Heide and the financial implications for Germany.
- The opposition is scrutinizing all available documents carefully, yet they have found little evidence of Günther's involvement in Northvolt's financial dealings, at least in those pages they have analyzed.
- Northvolt, on the brink of bankruptcy in Sweden on March 12, has received financing from the federal government, KfW, and the EU Commission, with substantial amounts already utilized or allocated—money that becomes increasingly significant in light of the ongoing investigation into Günther's part in the funding of Northvolt's German battery factory in Schleswig-Holstein.
