The investment to develop and manufacture the new national car could reach as high as RM1 billion, according to a projection in an analyst report. The launch date of the car has also been extended by a year.
In its report, Affin Hwang Investment Bank said that Malaysian company DreamEdge, which is the lead in the project, has set aside a minimum of RM600 million as the initial start-up cost, but dealership network establishment and production-related preparation costs could see cost overruns of up to RM1 billion.
The research report – which was picked up by The Star and the Malaysian Reserve – adds that DreamEdge, which is currently in active discussions with several parties on funding, is aiming to sell at least 3,000 cars a month in the first year of sales, leading to an annual rate of 36,000 units a year.
There has also been a revision to the timeline. In a meeting with Affin Hwang, DreamEdge revealed that a working prototype of the car is on track for release by mid-2020, with full production set to take place by the first half of 2022.
This means another year has now been added to the project’s timeline. Initial projections stated at the announcement of the project in August said that the first model prototype of the new national car would be shown in March 2020, with the final product set to make its market debut in March 2021.
It was also stated at the announcement that an engineering capability model mock-up was slated to be shown at the end of that month, but there has been no sign of the mock-up, nearly four months in.
The Affin Hwang report, authored by analyst Brian Yeoh, reiterated that the model is a plus-sized B-segment sedan as originally reported by this publication (it was initially mentioned as a C-segment unit during the project announcement, and later corrected).
The car will be powered either by an internal combustion engine or a hybrid powertrain, and is expected to feature technologies such as connectivity and advanced driver assistance systems. It will be built by a contract manufacturer, with rumours of this being Daihatsu subsidiary Perodua.
The design concept and development of the car will be led by DreamEdge, with technology partner Daihatsu – which confirmed its involvement in the project in October – handling the development of the powertrain and providing the platform. DreamEdge however stated during the meeting with Affin Hwang that the car would not be another rebadged Daihatsu.
We don’t need 3rd national car. Waste of money. Better invest in improving our current national cars like Hybrid systems, electric cars, or safety technologies.
P1 is already a waste of money. In the end run by china company. Kuminis p1.
rebadged P3 Daihatsu Kenari hybrid@ Rm55k je
Hmm… kuminis P1 or phenipu P2?
Problem is Perodua had promised us Kenari Hybrid since 16 years ago but until today janji dicapati. We are still waiting for this game changer car and waiting like forever but it never comes.
Might end up rebadge just to let cronies to untung
By 2022,no more PH go men…close shop,no need invest into a big money pit.
Let’s hope so. We need to boot them out, all of them, real soon.
Yep. We gotta bring back scumno corrupts.
Now I’ve seen how scummy Pakatan has turned out so soon, I don’t really mind going back to the grime of BN. Seriously.
what we need is a new party….
P3? I sensed the fail is strong with this one
Told ya so it wouldn’t be coming so soon. And I told you so it would take billions of taxpayer money for this pet project. They claimed no money for reducing petrol prices, they claimed no money to abolish tolls, they claimed no money to continue BR1M/BSH, but dunno where got billions to throw into this black hole for PH to songlap.
Yah u mean also like 1.25 bil and 1.5 bil that p1 loaned from govt back in 2016 n 2017, which is taxpayer money also. Now we all pay for p1 wastage but in the end china takeover. Waste of money. Obviously a completely failure local p1.
P1 in the end repaid back those loans with taxes on profits throughout the year. And besides, Najib had stop the bleeding when he married off P1 to Geely, now we are going back to saddling with another national car debt, all because we stupidly dumped Najib’s administration when the crunch came. Real stupid of us.
U really sound like stupid desperate thief who waiting for judgement day like ur idol najib.
You sound like a level F paid trooper to lick ur politicians arses here. Dei! If got proof, just send him to jail dy lah! Why all the accusations can be satisfactorily answered? Is he actually innocent?
Can you hear it?
That is the bells tolling the deathknell of Pakatan government.
Please don’t ask Rakyat to bailout…
Ohh sadly they will. Like how much proton bailed out from mahjib bn-scumno gov lastime? U guess whose money is that?
The first and last vote I will ever give to Pakatan…. Their politics was always a bit iffy, but I gave them the benefit of a doubt…. I think I’ll stick with BN for the foreseeable future. This is not what I voted for.
Rakyat already started to bail out by voting BN
Marty, we need to UBAH Back For the Future!!!
High time for rakyat to bail out of this sinking ship we called Pakatan Harapan Government
I’m going to downplay their aim to sell that many. It’s an unknown brand and you need to match P2 price to be able to move so many units.
Dreamedge? Yes, keep dreaming.
Btw, why bahasa penjajah? Why not Angan-angan Pinggir?
Because this is New(Old) Malaysia mah! You voted this, right?
Did you vote the loser?
I voted for sanity & reasoning, too bad the majority had a moment lapse of insanity. We all are paying for it now.
We voted the winner but why do we feel like the loser now?
Are we disappointed with the winner? Yes.
Are we regret kicking out the loser? No.
Only you. I sure as hell didn’t vote for more of my tax money to go into another Mahathir mega wonderpet projects. If I knew this would happen I would rather keep the old government around. The damage has been done, it can’t get any worse. With PH, we’re creating new damages.
Then swindle money for own use is ok for you?
Why not? We voted PH because we expect them not to do that, but they are swindling even more at a rapid pace. So might as well go back to BN swindling. At least they do it at a slower pace.
Omong-omong aja tu si.
Mimpi lah tu. Cakap Syiok but will end up be another Daihatsu rebadge with ICE, with the hybrid coming “very soon”. Kena conned by the Japanese again.
Sell 3,000 units / month ??? In your Dreams lah.
Stop drinking that ketum juice.
Rakyat kena conned by Kesian Atuk94.
Rakyat kena conned by all the janji manis.
Rakyat kena conned by Japanese again.
All by PH.
Wait, I see a trend here….
invest rm 1 billion but ended with rebadge daihatsu car…later gov come and bailout..haha
Come atuk 94.. Why need this another cronies project
atokk ala share untung dulu, blakang gila
The technical partner is Daihatsu. A B segment basically is any car with 2500-2550mm wheelbase (where vios and city used to be) B+ usually means 2600mm as we can see now (where city and vios are today) or 2620mm.
2600mm used to be C segment wheelbase ( Waja, corolla Altis E120/ E140, sentra N16, civic S84) but C+ now is at 2700mm (civic FD, Nissan sylphy, corolla E170)
Daihatsu basically doesn’t built any B+ cars and above, neither sedan nor hatchback. The good guess is a new car body based on Perodua Alza.
If its a hybrid, Daihatsu doesn’t have any except the rebadge Prius Alpha 7 seater known as Daihatsu Mebius.
Daihatsu also dies rebadge the Toyota Camry as Daihatsu Altis but not the hybrid spec while its also a D segment.
Its going to be a rojak of some sort. Unless Toyota allows Daihatsu to use the blueprint for Prius C platform.
Ok everyone we have a technical expert here. All stand back.
Wow….its this hard to rebadge a car and ask someone else to build it.
Whatever it is they are building will be an unknown newbie. Previous article mentioned their product will be a niche in the market. Combined both and it will be an excellent recipe for ‘gulung tikar’ within 1 year. Who will pay the debt to their supplier and Daihatsu ( for breaching assembly contract )?
The fact that this is taking soo damn long is a clear indication that there is ‘red tape’ somewhere in the dealings.
When the world is transitioning to electric drivetrains and reduced car ownership, this company is still trying to develop something that came out 20 years ago.
To let my mahacai cronies to gasak your hard earned money ma….mkh!!!
remember the “flying car” thing?
this will be the next
Let see how smart they are. The automotive industry is more than 120 years old and was with an electric motor before H. Ford mass production with ICE technology.
hahaha…..take your time. When the PH govt collapse, the 3rd national car oso collapse even before so called copy-paste car business starts.
“Satu lagi projek PH (belum start) but lingkup”.
Faster throw them out before we bleed even more money and later too late to stop it anymore. PH must be kicked out IMMEDIATELY!
Can someone explain how DreamEdge a 100% crony company made of ex proton engineers can secure such loan ? And real people will have to wait outside the Bank? Please explain
Because normies are stupid to wait outside bank for funding. Meanwhile Dreamedge go straight to LGE’s office. Remember who is the true king of bankers & ah longs.
bila perodua mau gulung tikar? game over perodua
WTF, just scrap this useless project by the head clown from ph circus. Malaysia don’t need him & this perotiga.
all so-called national car, should be able to EXPORT!
Dr m a looney
got RM 1 billion funds?
put in FD is more profitable than running a car company with that kind of money ^^
Racun all you want, “warrior”.. wahahahahahahahaha
The crony speak up at last I see. You must be their PR fella.
OMG! someone got triggered!! lol lol lol
Guess who got triggered enough to come here and plotek his shits company. ;-)
Did I comment anything “protective”? or “defensive”? Did I mention any “names”? or “company”? At last but not least, did I curse??? hahaha come on you, grow up la.. move on la.. don’t waste your time to “racun2”.. you’re better than that, don’t you?
Keep on dreaming.