Volkswagen, the German automaker that cheated diesel emissions tests, is aiming to release an all-electric car for $23,000 -- undercutting the Tesla Model 3 by nearly $12,000 -- sources have told Reuters. VW will convert three of its factories in Germany to produce the "MEB entry," with a production target of 200,000 vehicles. The MEB (modular electric drive matrix) platform is being used to develop VW's I.D. family of electric vehicles. And the company has high hopes for the new platform, with a goal of selling 10 million vehicles by the end of its "first wave." The I.D. Aero, a mid-size sedan, will also see a production target of 100,000 vehicles. A release date for the MEB entry was not disclosed, but the first I.D. vehicle should land in 2020. The German automaker will discuss all of this in a supervisory board meeting on November 16th.