The German Federal Ministry of Economics confirmed that the state development bank KfW is expected to receive an additional €69 million this summer. Northvolt had aimed to establish a gigafactory in Schleswig-Holstein, projected to create around 3,000 jobs, supported by a €600 million convertible bond from KfW, with equal guarantees from federal and state authorities. Critics have accused former Federal Minister of Economics Robert Habeck of mismanaging taxpayer funds, suggesting that the associated economic risks were underestimated.