Varta AG files for self‑administered insolvency after Apple contract ends

Varta AG insolvency Apple contract loss Deutsche Bank Porsche AG

German battery manufacturer Varta AG has filed for preliminary insolvency under self‑administration at the Stuttgart Local Court. The filing cites a structural funding gap expected from 2027, worsening market conditions, weaker demand, adverse exchange‑rate movements and, most recently, the loss of its key customer Apple, which stopped ordering the CoinPower micro‑batteries used in AirPods and shifted production to Chinese suppliers.

Shareholders Porsche AG and Austrian investor Michael Tojner declined to inject further financing. Creditors led by Deutsche Bank are considering separating and taking over the profitable household‑battery unit, which the company says will remain outside the insolvency process. The insolvency covers the parent Varta AG and three subsidiaries – Varta Microbattery, Varta Micro Production and Varta Storage – while the Varta Consumer Batteries division continues operating.

The company employs roughly 3,200‑4,000 people, with about 350 jobs at the Nördlingen plant slated for cuts. The restructuring aims to preserve jobs where possible and secure the long‑term future of the business amid intense competition and the broader European battery‑industry challenges.

Entities: Apple Inc. · Deutsche Bank · Michael Ostermann · Michael Tojner · Porsche AG · Varta AG

Claims

What the coverage asserts, and how well corroborated each claim is across sources.

[● 8 SOURCES] Creditors led by Deutsche Bank are considering taking over the profitable household battery segment. (Deutsche Bank)
[● 7 SOURCES] VARTA lost its key customer Apple, which switched to a Chinese supplier for its CoinPower button batteries used in AirPods. (Apple)
[● 6 SOURCES] Porsche AG and investor Michael Tojner refused to provide additional financing, prompting the insolvency. (Porsche AG, Michael Tojner)
[● 8 SOURCES] The insolvency filing does not affect VARTA's household battery business, which will be separated. (VARTA AG)
[● 8 SOURCES] Investor Michael Tojner expressed interest in acquiring VARTA's micro‑battery division. (Michael Tojner)
[● 5 SOURCES] VARTA employed about 3,260 people, many of whom are at risk due to the restructuring. (VARTA AG)
[● 10 SOURCES] VARTA AG filed for preliminary insolvency under self‑administration at the Stuttgart Local Court. (VARTA AG)
[● 4 SOURCES] VARTA reported 2024 revenue of approximately €793 million and a loss of €64.5 million. (VARTA AG)