Third national car project can cost up to RM850m, says Putrajaya

The third national car project can cost up to RM850 million, according to Putrajaya in a parliamentary written reply.

"It is estimated the development cost of the third national car, which is fully funded by the private sector, will be between RM800 million and RM850 million," said Deputy Law Minister Mohamed Hanipa Maidin.

"As previously said by the prime minister, the new national car project is a private initiative that will be funded by the private sector. There is no involvement of public funds in the project," Hanipa told Ismail Sabri Yaakob (BN-Bera) in the parliamentary reply.

The opposition leader asked if the government is involved in the project and demanded to know about the cost of the third national car.

Hanipa said the involvement of the government in the project is not only to create the car but also to look for existing talents and resources to catalyse the development of an ecosystem where entrepreneurs, businesses and industries can grow," he said.

"This will indirectly create job opportunities, especially for the youth in the engineering sector that is important for Malaysia to become an exporter," he said.

DreamEdge Sdn Bhd has been selected as the anchor company to pioneer the third national car.

The government had repeatedly said the company would not get any bailouts even if the project fails.

The Malaysian Industry-Government Group for High Technology (Might), a government agency under the Prime Minister's Department, is a minority shareholder in DreamEdge Sdn Bhd. 

International Trade and Industry Minister Darell Leiking had previously said that during the previous BN administration, Might took up a stake in DreamEdge in 2017. - Mkini