Volkswagen top manager works for the competition – Affair about new miracle battery.
Top managers in the Volkswagen Group earn well, really well. A salary in the millions is not uncommon here. In return, Europe’s largest car manufacturer demands performance and loyalty.
Dr. Ulrich Eichhorn (63) has also fulfilled these expectations for a long time. The model engineer has been part of the so-called Top Management Circle (TMK) for more than two decades, was Chief Technology Officer of Bentley, headed development and research for the entire VW Group and sits on specialist committees of the German government.
In the shadow of his role at VW, however, Eichhorn also pursues controversial side businesses. Research by BILD reveals that the renowned VW manager has been working for the competition for years.
As can be seen from legal documents, Eichhorn is involved in Prime Solid Holding GmbH, among others, through cross-border corporate structures. The Berlin-based company is developing a new type of solid-state battery for electromobility and, according to company presentations, sees itself in competition with the VW joint venture QuantumScape.
The Wolfsburg-based company’s battery hopes are resting on the US company.
Dr. Ulrich Eichhorn, said:
If someone makes a breakthrough in solid-state cells, then there is potential for a significant leap in costs, capacity and size.
recognized Eichhorn, VW’s head of development at the time, in 2017. A year later, the German carmaker became QuantumScape’s largest shareholder.
Did the top manager disclose his secondary job at VW?
Explosive: While Volkswagen invested hundreds of millions in QuantumScape, top manager Eichhorn invested his VW salary indirectly in the rival company. Background: In mid-2021, the Swiss stock corporation “Value Grid Ventures” acquired a 47.5 percent stake in Prime Solid. Behind this is “Sciurus GmbH” (Latin for squirrel), with which Eichhorn manages his assets according to the commercial register.
According to BILD research, the VW manager not only attended shareholders’ meetings, but also incorporated his battery knowledge into the development and conducted employee discussions.
The public prosecutor’s office is currently interested in one of these conversations. It is investigating a former Prime Solid employee for the misuse of trade secrets. According to court records, Eichhorn apparently had a good relationship with the employee. Now the investigators want to know more about Eichhorn’s role and a dubious meeting with the accused.
Eichhorn does not want to answer any specific questions from BILD. Instead, his lawyer explains that the accusation that his client did not correctly report a “possible investment” to his employer is false. Eichhorn did not invest in companies in violation of – alleged – non-competition clauses, and in particular his client did not pass on any insider knowledge from VW, according to the lawyer.
Is all of this correct? When asked, the VW Group had difficulty removing Eichhorn from the firing line. The official statement:
For data protection reasons and our duty of confidentiality under employment contracts, we ask for your understanding that we will not comment further.
Group sources say that the matter was surprising and that an internal investigation is underway.
Prime Solid stated that the company would not support “harmful PR” against its co-shareholder because it had a “duty of loyalty”.
READ the latest Batteries News shaping the battery market
Volkswagen top manager works for the competition – Affair about new miracle battery. source
