Car giant Volkswagen has said it is in "advanced talks" with US authorities on a proposed settlement that contains 4.3 billion dollars (£3.5 billion) in criminal and civil fines over its diesel emissions scandal.

The draft settlement would require the company to strengthen compliance efforts, including the appointment of an independent monitor.

A statement from VW said that under the proposal, it would agree to "a guilty plea" to criminal law provisions.

The draft deal would need to be approved by Volkswagen's board and US courts.

Volkswagen has admitted equipping diesel cars with software that turned up emissions controls when the car was being tested, and turned them down during normal driving, improving engine performance but exceeding emission limits.

The company has agreed to a 15 billion US dollars (£12.3 billion) civil settlement with environmental authorities and car owners in the US.