Manufacturers Turning Back on Electric Vehicles

The video discusses the current state and future of electric vehicles (EVs). Renault and Nissan have invested heavily in EV technology, aiming for a significant market share by 2020. However, a report by KPMG indicates that the electric car revolution has stalled due to manufacturers' hesitance and consumer priorities shifting away from environmental concerns. Despite low initial sales, the market is growing, and there is a need for price reductions and improved performance to attract consumers. The report warns that manufacturers must act quickly to position EVs as economically viable options.

What factors are contributing to the growth of the electric vehicle market despite current challenges?

What does the report suggest manufacturers need to do to convince consumers about electric cars?