German Battery Maker Northvolt’s Insolvency Raises Concerns Over €620 Million in German Tax Revenue
In the wake of Northvolt’s insolvency, the potential loss of €620 million in German tax revenue has sparked a call for a parliamentary inquiry in Germany. According to Bavarian Minister-President Markus Söder, the Bundestag must take action to investigate the matter thoroughly and quickly.
Söder, a member of the Christian Social Union (CSU), has proposed the establishment of an investigative committee to scrutinize Northvolt’s bankruptcy and the role of former Economy Minister Robert Habeck in the affair. The minister emphasized the need for a thorough examination, stating that taxpayers should not be left to absorb a loss of hundreds of millions of euros.
Söder’s proposal comes as a response to the significant financial implications of Northvolt’s insolvency, which could have a substantial impact on Germany’s tax revenue. The proposed inquiry aims to provide a detailed examination of the events leading up to the battery maker’s bankruptcy and to hold those responsible accountable.