Gov't announces anchor company for third national car

Putrajaya has announced that DreamEdge Sdn Bhd, a bumiputera-owned engineering firm, will be the anchor company responsible for developing the third national car.

At a press conference in Cyberjaya today, International Trade and Industry Minister Darell Leiking said the first model of the car will take 18 months to manufacture and will be launched in March 2021.

Japanese manufacturer Daihatsu Motor Co Ltd will provide support for manufacturing the car, but will not acquire any stake in the project.

Leiking also reiterated that the government will not allocate any funds for the development of the car.

The minister said the company was chosen because of its proven track record, business model and engineering, development and process design capabilities.

"They have a good business model that we believe can work, and they already briefed Prime Minister Dr Mahathir Mohamad over (the plan)," he said. 

"He is convinced that as long as it is privately funded, and run by expertise from DreamEdge, why not?"

Leiking also denied that DreamEdge secured the project due to its special relationship with the prime minister.

"I can confirm, no," he said, firmly.

Earlier today, Free Malaysia Today quoted a source as saying that DreamEdge was chosen to spearhead the third national car project, and that it has a special relationship with Mahathir, who first mooted the idea.

"What is this new national car? It is a new model with advanced technology with the collaboration that DreamEdge and Daihatsu. And it must be affordable to the public.

"The anchor company will showcase its model mockup by the end of this month, and embark on additional recruitment by mid of September," the source said.

Leiking said today that the first model prototype of the car will be revealed in March 2020, a year before its launch.

Details not finalised

Established in March 2007, the Cyberjaya-based DreamEdge provides engineering services related to the automobile, rail, naval, energy, aeronautics and manufacturing industries.

Founder and CEO Khairil Adri Adnan (left in photo) said the company will develop a C-segment sedan as its first car, but is still undecided on the engine type.

"It will be either advanced ICE (internal combustion engine) or hybrid," he said.

Although today's press conference was expected to reveal details about the new national car, many aspects appear to be unfinalised, such as the financing structure of the project.

When pressed further about a formal contract with Daihatsu, Malaysia Automotive Institute (MAI) CEO Madani Sahari said an understanding had been reached with the company.

Madani added that a memorandum will be signed in the future.

He explained that DreamEdge roping in Daihatsu will not impact the second national car, Perusahaan Otomobil Kedua (Perodua), which is 35 percent owned by the Japanese manufacturer. 

"There is no change in terms of the collaborating partnership between Daihatsu and Perodua," Madani (right in photo) stressed.

At the press conference, Leiking and the DreamEdge boss were repeatedly grilled by journalists on details of the new national car, particularly on how it could inspire public confidence with so much uncertainty surrounding the project.

Khairil Adri said his company approached the International Trade and Industry Ministry six months ago about the project.

He added that DreamEdge is looking at contract manufacturing to build the car, and that it has time to iron out the finer details, including the financing scheme.

The minister, meanwhile, said the media should be more concerned if it were funded by the government.

Hounded by journalists even after he left the event, he said "be positive" before disappearing into a lift.