German Battery Giant Varta Files for Bankruptcy, Threatening Up to 3,000 Jobs

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German battery giant Varta has filed for bankruptcy, with reports that up to 3,000 workers could lose their jobs. As electrification accelerates worldwide across two and four wheels, the collapse of a major maker of the batteries at its heart underlines the harsh competition facing Europe's battery industry and the fragility of the supply chain underpinning electric mobility.