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In 2006, Tesla Motors introduced the Tesla Roadster, providing a fresh vision for fully electric vehicles. This move coincided with General Motors’ release of the Chevy Volt in 2009, which became the first significant plug-in hybrid offering. The U.S. Department of Energy played a crucial role in developing battery technology that halved costs during this era, establishing a more favorable environment for the electric vehicle market.
By 2014, consumers had access to a diverse array of vehicles, with 23 plug-in and 36 hybrid models available in the market. This trend has only accelerated since, with automakers worldwide continuously introducing new models as competition for Tesla intensifies.