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Volkswagen AG’s fledgling Moia mobility unit is betting on the rise of self-driving cars to deliver on its plan to catch up with ride-hailing leaders such as Uber Technologies Inc. without burning through piles of cash.

Volkswagen Truck & Bus announced it will rename itself Traton Group to further increase its independence from parent company Volkswagen AG and toward “capital market readiness” in preparation for a potential IPO by the unit.

Volkswagen AG is considering forming an alliance with Ford Motor Co. to share costs for development and production of vans and pickup trucks, according to people familiar with the matter.

Volkswagen AG will pay a $1.2 billion fine ($1 billion euro) imposed by German prosecutors for cheating to get around diesel-emissions regulations, closing one chapter in a three-year-old crisis even as new developments arise.

Connecticut is obtaining $7.5 million from the national Volkswagen settlement over emissions cheating and will use the funds to help replace aging diesel trucks and other equipment.

MAN SE will take steps to become more profitable as owner Volkswagen AG prepares to split the 260- year-old German industrial conglomerate and potentially sell a stake in its commercial vehicles division to outside investors.

Volkswagen AG is speeding up preparations for its heavy commercial-vehicle division to sell stock or debt on its own as the unit expands to compete with global leaders Daimler AG and Volvo AB.

Volkswagen AG’s supervisory board is meeting April 12 to push through a change in top management and organization, after a rushed statement left more questions open than answered.

Volkswagen AG officials are discussing options to prepare the truck division for access to the capital markets, potentially paving the way for an initial public offering of shares or a bond sale by the unit, according to people familiar with the matter.

Volkswagen AG’s Moia division unveiled a six-seater, battery-powered minibus to enter the market of app-based ride hailing and car-pooling, taking on the likes of Uber Technologies Inc.