Speaking at the announcement, Mr. Leiking said that the new national car Development Project is completely privately funded, the government can only partially support tax and research grants. The goal of the project is to apply science, technology, engineering and ensure that the third car is fully developed in Malaysia by the national brand.
DreamEDGE, a company based in the city of Cyberjaya in the Selangor state, was selected as the main project implementation. Meanwhile, the Japanese manufacturer, Daihatsu, became a partner of advanced technology support for the project. It is expected that Malaysia’s third national car prototype would be completed in 3/2020 and the first launch could take place after a year.
Shortly after returning to power with a historic victory at the 14th general election in June 5/2018, Malaysia’s prime minister, Mahathir Mohamad, expressed a desire to develop the third National Car project. Once yet, this idea caused mixed reactions from the Malaysian people. The reason was that the Malaysian government had to pour billions of ringgit to save Proton Holdings, Malaysia’s first national car company.
In 2017, Chinese automobile manufacturing company Geely purchased 49.9% of the stake, becoming the largest shareholder of Proton and Proton is no longer seen as Malaysia’s national car carrier.