VW is looking to bring back the Scout brand as an electric vehicle
This image, from 2019, is of a refurbished Scout. The brand was originally built by International Harvester between 1961 and 1980.

Volkswagen is planning to resurrect the iconic "Scout" brand as an electric vehicle in the United States.

In a report late Tuesday, the Wall Street Journal said the German automotive giant was aiming to launch a "new Scout-branded electric sport-utility vehicle" as well as an electric pickup truck, also under the Scout name.

Volkswagen confirmed to CNBC that its supervisory board would vote on the proposals on Wednesday.

The Scout's history dates back to the 1960s, when International Harvester — today known as Navistar International Corporation — started development.

According to Navistar, the Scout was "marketed as an all-terrain family recreational vehicle" before evolving into a "true SUV." Production of the Scout ceased in 1980. Today, Navistar is part of the Traton Group, which is itself a subsidiary of the Volkswagen Group.

Reuters, citing two people with knowledge of the matter, said Wednesday that VW would invest roughly 100 million euros ($105.49 million) in the new brand, adding that it would potentially look for "external funding through investors or an IPO to expand its production capabilities."