Volkswagen is working on an entry-level electric vehicle that will sell for a base price of €20,000 ($21,000). The company has already given its own employees a look at its initial design during a meeting in Wolfsburg, Germany, where it announced the new model. Volkswagen plans to unveil the model to the public in early March, though its production version won’t be ready until sometime in 2027.

The automaker has yet to reveal the upcoming model’s details or specs, but it will be part of an upcoming lineup of small electric cars that includes the ID.2all. Volkswagen, which first revealed the ID.2all concept in 2023, said its production version is scheduled to reach dealerships in 2026. While the €20,000 model is slated to become Volkswagen’s most affordable EV, the ID.2all will be the brand’s first small all-electric car. It will have a base price of €25,000 when it becomes available. It’s not quite clear if the upcoming entry-level model will be released around the world, though, since Volkswagen’s Thomas Schäfer called it an “affordable, high-quality, and profitable electric Volkswagen from Europe for Europe.”

Volkswagen has sold more than 1.35 million ID vehicles around the world since it launched the ID product family in 2019. That number includes the 500,000 ID.3 it sold last year. One of the company’s latest releases is the long-awaited ID.Buzz, an electric van with a retro aesthetic that currently has a starting price of $59,995 in the US.