Messerschmitt began work on a single-seat jet-powered fighter before the start of World War II. The initial design was known as Projekt 1070 (P.1070). A twin-engined straight-wing design, the P.1070 was canceled in favor of the similar P.65.^[1] The P.65 was designed with a straight wing, similar to the P.1070, as well as an unswept vertical stabilizer. The prototypes were to be powered by two BMW 003 (P.3302) turbojet engines, while production aircraft would have had two BMW P.3304 engines. Messerschmitt later redesigned the P.65 with swept wings and tail surfaces as the P.1065, which was to have conventional landing gear and be armed with three MG 151 cannons with 250 rounds each.^[1][2] As of July 1940, the RLM ordered 20 prototypes of the P.1065 and planned to take delivery of the first aircraft by September of that year.^[2] However, delays with the BMW 003 engines meant that no P.1065 prototypes had been built by the end of the year.

In February 1941, Messerschmitt began work on the P.1065 V1, which was powered by a single Junkers Jumo 210G piston engine driving a two-bladed propeller. The V1 prototype made its first flight on April 18, 1941, ten days after the P.1065 was assigned the designation Me 262.^[2] In September 1941, BMW delivered the P.3302 engines to Messerschmitt, which were fitted to the Me 262 V1 after it had flown 47 times under piston power. The BMW-powered V1, which retained its Jumo engine, made its first take-off under jet power on March 25, 1941. Both engines suffered a compressor blade failure during the flight, forcing test pilot Fritz Wendel to land under piston power alone.^[2]

Following the successful test flights of the rival Heinkel He 280, the RLM cut back its initial order for 20 prototypes to just five on May 29, 1942. However, only three days later, Messerschmitt took delivery of two Junkers Jumo 004A turbojet engines. These were fitted to a new prototype, the Me 262 V3, which, after a failed first take-off attempt, took off on the second attempt and flew without problems on June 18. Following the success of the V3, the V2 prototype (which was intended to be powered by the BMW 003) was fitted with these engines and a new V4 prototype was built to this configuration. The conventional landing gear of the first four prototypes caused exhaust from the engines to deflect off the runway and caused the tail to be caught in the turbulence, making take-off difficult. To remedy this, the V5 prototype was built with fixed tricycle landing gear, and the definitive V6 was built with retractable tricycle gear.^[3]