The mechanism consists of a wire rope in a plastic tube, and at the ends there are 2 small metal elements that hold the wire rope onto the metal element (VW logo) of the keychain.
Initially, it seemed good when I opened the box.
On the very first day, the small metal element that held the wire rope detached, causing the keys to fall off the keychain and making it unusable. After tightening it with pliers, I fixed it.
The metal element that bears the logo is made of a metal alloy with a thin layer of shinier metal, which swelled due to moisture after very little use.
It is a very nice keychain, but it is only worth it if you want it as a gift and for use in formal occasions where it will be minimally exposed to moisture, friction, and forces.