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German battery maker Varta files insolvency applications - Finance news and analysis from Global Banking & Finance Review
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German battery maker Varta files insolvency applications

Published by Global Banking & Finance Review

Posted on July 24, 2026

1 min read

· Last updated: July 24, 2026

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Varta Files Four Insolvency Applications After Losing Apple as Key Customer

Varta's Financial Struggles and Insolvency Proceedings

Background and Recent Developments

MUNICH, July 24 (Reuters) - German battery manufacturer Varta has filed four insolvency applications, a spokesperson for the Stuttgart district court said on Friday, marking another setback for the company.

Shareholder Response and Funding Issues

• Reuters reported on Thursday that Varta planned to file for insolvency after its shareholders sports car maker Porsche AG and Austrian investor Michael Tojner declined to provide additional funding to the struggling company

Potential Breakup and Creditor Interests

• Varta now faces a potential breakup: Key creditors, including Deutsche Bank, intend to take over the profitable household battery business, while Tojner has expressed interest in the micro-battery division

Loss of Key Customer: Apple

• Varta lost its key customer in the spring: Apple plans to source the rechargeable "CoinPower" button cells for its AirPods headphones from China in the future

(Reporting by Alexander Huebner, Writing by Miranda Murray, Editing by Linda Pasquini)

Key Takeaways

  • Varta filed four insolvency applications before the Stuttgart district court on July 24, 2026.
  • Shareholders Porsche AG and Michael Tojner declined further funding, triggering the filings.
  • Creditors including Deutsche Bank plan to acquire the household battery business; Tojner eyes the micro‑battery division.
  • Varta lost Apple’s CoinPower AirPods cell contract, leading to 350 job cuts and plant closures.

Frequently Asked Questions

Why did Varta file for insolvency?
Varta filed for insolvency after major shareholders, including Porsche AG and Michael Tojner, declined to provide additional funding.
Which businesses are creditors interested in after Varta's insolvency?
Key creditors, including Deutsche Bank, are interested in taking over Varta's profitable household battery business, while Michael Tojner has expressed interest in the micro-battery division.
What impact did Apple have on Varta's financial situation?
Varta lost its key customer, Apple, which chose to source 'CoinPower' button cells for AirPods from China in the future, contributing to Varta's insolvency.
How many insolvency applications did Varta file?
Varta filed four insolvency applications.

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