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The 140-year-old German giant Varta is on the brink of bankruptcy.

The 140-year-old German giant Varta is on the brink of bankruptcy.

07.11.2024 07:30

The 140-year-old German giant Varta is cornered due to the rapid moves in the battery sector by the USA and China. The rising debts and China's low-cost advantage have brought the established European battery manufacturer to the brink of collapse, while Varta, which reached a historic peak by participating in Apple's AirPods projects, is now on the verge of bankruptcy.

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While there is fierce competition among global giants in battery production, the German giant Varta, one of Europe's long-established manufacturers, is struggling with a serious financial crisis in the face of rapid investments from the USA and China. With a history of 140 years, Varta is on the brink of collapse due to its debt burden.



Today, batteries used in various electronic devices, from smartphones to digital watches, headphones to tablets and pens, as well as keyboards and mice, have become an integral part of life. The rise of electric and hybrid vehicles is also increasing the importance of battery technologies.



TURKEY AIMS TO OFFER A WIDE RANGE OF PRODUCTION



While China and the USA lead the global battery war, Turkey is also drawing attention with the TOGG project. Turkey aims to offer a wide range of production from vehicle batteries to smart devices through the Siro battery company established in partnership with Chinese energy giant Farasis Energy.



The 140-year-old German giant Varta is on the brink of bankruptcy


THE BIGGEST COLLAPSE IN STOCK MARKET HISTORY



Varta has been in the news recently due to financial difficulties stemming from a debt burden exceeding 600 million euros. According to information from Ekonomim, the company is facing cash flow problems, leading to significant delays in payments. Known for its 140-year history, Varta is heading towards a major collapse as its stock prices fall below the levels seen during the 2008 crisis, which is regarded as one of the largest collapses in world stock market history.



THEY REACHED A HISTORICAL PEAK BUT...



Having reached a historical peak by signing a production agreement with Apple for AirPods, Varta struggled under the cost pressure from Chinese manufacturers. The German giant, unable to meet the necessary R&D investments to develop electric vehicle batteries, found it difficult to stand against the aggressive strategies of Chinese giants like BYD and CATL in raw material supply. This situation has led to a significant loss of market share for Varta, including among German brands.



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