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 significant blow to its operations and forward revenue outlook.
According to Reuters and German media reports, that key customer is Apple, which has reportedly decided to source rechargeable CoinPower button cells for its AirPods from China instead.
Reuters further reported that Varta’s shareholders, including sports car maker Porsche AG and Austrian investor Michael Tojner, had declined to provide the struggling company with additional funding.
Chief Executive Michael Ostermann said: “VARTA AG has faced significant challenges in recent quarters. We on the Executive Board and in management are fully aware of our overall responsibility to employees, customers, suppliers, and investors, and are working with all our strength to preserve as many jobs as possible.”
Ostermann added that the company is focused on ensuring “the company’s continued sustainability, and create the best possible prospects for all stakeholders.”
Varta became a privately held company following its delisting from the Frankfurt and Vienna stock exchanges in March 2025, as part of an earlier restructuring effort that was declared complete in April 2025.
The Stuttgart Local Court appointed Tobias Wahl, a lawyer with restructuring firm Anchor, as provisional supervisor to oversee the proceedings on behalf of creditors.
Under the self-administration structure, Varta’s existing management team retains operational control of the business while Wahl monitors the process.
The profitable Varta Consumer Batteries household division is legally separate from the parent company and is excluded from the insolvency proceedings entirely.
Three operating subsidiaries are covered by separate applications filed alongside the parent: Varta Microbattery, Varta Micro Production, and Varta Storage.
Ostermann noted that the energy storage market remains a future-oriented industry, signaling the company’s intent to find a path through restructuring rather than pursue liquidation.
