FRANKFURT—Volkswagen is reportedly planning to sell an entry-level electric vehicle (EV) for less than 20,000 euros, or approximately $23,000. At a board meeting scheduled for November 16, executives will gather to discuss the automaker's plans to manufacture its I.D.-branded EVs in place of its internal combustion offerings, according to Reuters.

The manufacturer hopes the entry-level vehicle generates a sales volume of 200,000 units. The vehicle is rumored to be based on VW's modular electric vehicle platform, MEB, which will underpin all of the company's first generation of electric vehicles from the utilitarian I.D. Buzz to the I.D. Crozz lifestyle vehicle—both of which will reportedly be built in the United States.