Toyota doesn't even sell a car in the US that you can buy for $20k. The cheapest Corolla is $20,425 but you can't actually buy it at that price in practice. EV's actually have a huge advantage in that you can make a car at nearly any price point you want by trading off range. For example in China the top selling EV is a $5000 EV made by Wuling[1] with a 75 mile range, they offer slightly higher trims for more range. For the majority of people who live in cities a 75-150 mile range small vehicle is good enough and for something like that you can build it for $5-10k easily.

[1] https://www.wired.com/story/review-wuling-hongguang-mini-ev/