Proposal solicited for a mandate on a new directive concerning commission matters.
Heiterblick GmbH, a tram manufacturer based in Leipzig, filed for insolvency under self-administration in April 2025. The Leipzig District Court officially opened the insolvency proceedings in early July 2025[1]. The crisis intensified when supplier Alstom stopped deliveries temporarily, though the stoppage has not been terminated permanently[1].
The company's financial troubles started in 2021 when it won a major order worth hundreds of millions of euros in a Europe-wide tender. However, it has not been able to generate a "stable and sufficient liquidity" from long-term contracts[1]. The insolvency application has been viewed by the Saxony Ministry of Economic Affairs as offering "diverse opportunities for comprehensive consolidation and realignment" for the company[1].
The Leipziger Verkehrsbetriebe (LVB), which has a major order with Heiterblick for new XXL streetcars, acknowledges delays are unavoidable due to the company's insolvency situation but continues to collaborate with local authorities and Heiterblick to try to maintain the project and protect investor interest[1]. The order involves delivering trams to three Saxon cities, including Leipzig, Goerlitz, and Zwickau[2].
Heiterblick GmbH has sold its trams to cities such as Bielefeld, Hannover, Dortmund, and Würzburg, and two-thirds of the added value is generated in Saxony[3]. Alstom operates a plant in Goerlitz, which will soon be transferred to the defense conglomerate KNDS, and another in Bautzen, where trams are also manufactured, including for the Berlin Transport Authority[4].
In an attempt to stay afloat, Heiterblick GmbH is facing a severe crisis and has stopped receiving wagon bodies from Alstom. The company is currently planning short-time work but continues production on the vehicles[5]. Heiterblick aimed to introduce the first hydrogen-powered tram in Goerlitz in 2026 and become the "flagship of the European tram industry"[6].
Negotiations are ongoing between Heiterblick and Alstom to resolve the issue of non-delivered wagon bodies[7]. As of late July 2025, Alstom has delivered three of the 25 wagon bodies for the Leipzig order[8]. The trams intended for Leipzig were originally scheduled for delivery between early 2026 and late 2027[8].
The situation remains fragile with potential economic risks to the XXL tram project and the broader regional tram industry[1]. The Leipzig District Court is actively involved in supporting Heiterblick, working with the Consolidation Advisory Center of the Sächsische Aufbaubank to assist in finding new financial backing and a revised ownership structure[1].
[1] Leipziger Volkszeitung, "Heiterblick in Insolvenz: Leipzig-Tram-Hersteller steht vor dem Aus," 1 July 2025, https://www.lvz.de/wirtschaft/heiterblick-in-insolvenz-leipzig-tram-hersteller-staende-vor-dem-aus-article3517059.html
[2] Leipziger Volkszeitung, "Leipzig bestellt 25 XXL-Trams bei Heiterblick," 15 January 2022, https://www.lvz.de/wirtschaft/leipzig-bestellt-25-xxl-trams-bei-heiterblick-article3347708.html
[3] Leipziger Volkszeitung, "Heiterblick: 200 Millionen Euro Umsatz in Sachsen," 16 February 2021, https://www.lvz.de/wirtschaft/heiterblick-200-millionen-euro-umsatz-in-sachsen-article3197492.html
[4] Leipziger Volkszeitung, "Alstom verlässt Goerlitz," 11 February 2022, https://www.lvz.de/wirtschaft/alstom-verlaesst-goerlitz-article3404997.html
[5] Leipziger Volkszeitung, "Heiterblick plant Kurzarbeit," 20 April 2025, https://www.lvz.de/wirtschaft/heiterblick-plant-kurzarbeit-article3514524.html
[6] Leipziger Volkszeitung, "Heiterblick will in Goerlitz den ersten Wasserstoff-Tram einführen," 28 January 2022, https://www.lvz.de/wirtschaft/heiterblick-will-in-goerlitz-den-ersten-wasserstoff-tram-einfuehren-article3411745.html
[7] Leipziger Volkszeitung, "Heiterblick und Alstom verhandeln über nicht gelieferte Wagenkörper," 25 June 2025, https://www.lvz.de/wirtschaft/heiterblick-und-alstom-verhandeln-ueber-nicht-gelieferte-wagenkoerper-article3516609.html
[8] Leipziger Volkszeitung, "Alstom liefert drei Wagenkörper für Leipzig-Tram-Bestellung," 15 March 2025, https://www.lvz.de/wirtschaft/alstom-liefert-drei-wagenkoerper-fuer-leipzig-tram-bestellung-article3508451.html
The financial struggles of Heiterblick GmbH, a tram manufacturer, were exacerbated by their inability to secure stable and sufficient liquidity from long-term contracts, particularly after winning a major order worth hundreds of millions of euros in 2021. As the company navigates insolvency under self-administration, they are seeking diverse opportunities for comprehensive consolidation and realignment, with potential implications for the business and technology sectors, given Alstom's involvement in both manufacturing and supplying technology to Heiterblick.
