How To add new folder to email accounts
How to set up new mail folder with new iPad update 26.1. There is no place on the upper right side to do that.
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While perhaps initially confusing, mail folders are known as mailboxes - each email account having multiple "standard" mailboxes such as Inbox, Sent, Junk, Drafts, Archive, Trash/Bin etc.
Subject to some limitations imposed by the Mail Provider, you can add additional Mailboxes (folders) to help you manage your mail.
The iPad User Guide is a rich source of information about using your iPad and iPadOS. Here is a direct link to the relevant section of the Guide:
Organize email in mailboxes on iPad - Apple Support
This Apple support page provides similar guidance:
Use mailboxes to organize email messages on your iPhone or iPad - Apple Support