German auto giant Volkswagen hopes to significantly increase the pace of development for its entry-level electric models planned for 2027. “The €20,000 (about $22,000) VW will set standards in terms of design, quality, equipment and technology at an attractive price,” said Volkswagen Group chief executive Oliver Blume at the company’s general meeting on Wednesday. “And we are also demonstrating that Volkswagen is able to develop quickly, efficiently and effectively – with ‘Europe Speed.'” At 36 months, the development time is significantly shorter than for previous models. The VW Group’s manag…