Volkswagen AG Chief Executive Officer Herbert Diess told top managers that the world’s largest automaker needs to undergo a “radical overhaul” in the face of industry change or risk being pushed aside.

Days before production starts on Volkswagen AG’s cornerstone electric vehicle, the German manufacturer is stepping up a campaign to more than double its market value and gain investor recognition for the industry’s most ambitious technology push.

CANBERRA, Australia — Volkswagen has agreed to pay up to 127 million Australian dollars ($87 million) to settle an Australian class action stemming from the 2015 diesel emissions scandal, the German automaker and a lawyer said Sept. 16.

Volkswagen AG will dive into the increasingly crowded car-sharing market with its WeShare offering, which will seek to distinguish itself from rivals with an electric-only fleet.

Volkswagen AG is nearing a deal to cooperate with Ford Motor Co. on electric-car technology and self-driving vehicles, according to CEO Herbert Diess.

Volkswagen AG set plans to list its heavy-truck division Traton SE in Frankfurt, Germany, and Stockholm, moving forward with one of the year’s largest European public offerings despite a wobbly stock market and a swirling trade war between China and the United States.

Volkswagen AG shares climbed the most in two weeks after the German automaker revived plans for a partial offering of its Traton SE heavy-truck division and said it may dispose of two noncore businesses.

Volkswagen AG is about to find out whether consumers will back its 30 billion-euro strategy to topple Tesla Inc. as the electric-car leader. The German auto giant is taking 1,000-euro deposits to secure one of the first in a new range of battery-powered models.

Volkswagen AG is renewing efforts to sell minority stakes in non-core operations to streamline its business and focus on the main passenger-car brands, according to people familiar with the matter.

Volkswagen AG is seeking to create buzz months before deliveries start for its first ID. electric car, following the footsteps of Tesla Inc.’s Elon Musk, whose promotion of the Model 3 generated reservation lines around the block.