If there was a big enough market for that EV at 20k to make production practical, car companies would make them in an effort to maximize profit.
But Americans have a lot of money and a lot of space and want big vehicles; EVs are more expensive to produce, so it’s the rich people that want EVs. And those people aren’t going to buy a little toy box.
That might make sense if the only two options were "make nothing" and "make EVs to sell for 20k". In the presence of other options, however, the manufacturer might decide that that's not the optimal strategy. Or existing regulations, tariffs, or subsidies might be distorting the market. Automobiles are probably one of the least-free markets this side of pacemakers.
So a 20k EV probably just involves too many compromises to make it a winning proposition for both the buyer and the seller.
