German state of Lower Saxony to keep to Volkswagen stake

BERLIN: Germany's state of Lower Saxony, Volkswagen's second-largest stakeholder, will keep to its holding in Europe's biggest automaker, Prime Minister Stephan Weil said.

"The state has great interest in VW's success," Weil said in a speech to the Hanover-based regional parliament on Tuesday, referring to Lower Saxony's 20 percent holding in VW.

"We want it to continue," said Weil, despite the "fatal mistakes" at the carmaker which plunged VW into the biggest business-related scandal in its 78-year history.

There will be further decisions at VW relating to the diesel emissions scandal, Weil said, noting the carmaker needs to adjust its plans for investments and profits.

The emissions scandal "will not be cleared up in just a few months," said Weil, who sits on the carmaker's 20-member supervisory board.