Volvo loyalists have been wondering for some time now about the Swedish carmaker’s near-term plans for producing an eco-friendly offering within its lineup. The Ford subsidiary has shown several hybrid concept vehicles at various international auto shows, but there have been no formal announcements about taking any green ideas to market. Until now.

Top executives of Chrysler Corporation took the wraps off a line of electric and hybrid vehicles today. In a CNBC exclusive interview, the company both upended and validated the future arrival of electrically driven vehicles.

In a surprising switch, Tesla Motors has announced it will build its next electric car model in its home state of California, lured by millions of dollars in state incentives. The start-up carmaker—a darling of the green tech movement—will now need to deliver on its promises, something that it has found difficult during its short existence. A little more than a year ago, Tesla had frustrated its California promoters, including Gov. Arnold Schwarzenegger—who ordered one of the early model roadsters—by announcing a that it had chosen to assemble the car in New Mexico.

The buzz around electric sports-car-maker Tesla Motors is sparking something akin to what happened in California 150 years ago—this time the rush is toward plug-in electric and hybrid vehicles. Undaunted by Tesla’s difficulties in delivering on early promises, small companies are charging forward with a “if they can build a car, why not us” attitude. Many claim that 2010 will be their year.