The government is due to reveal its partner for its new national car project (NNCP), and we’ve just learnt the identity of one of the bidders. According to The Edge, Alam Perkasa Consortium (APC) – apparently one of the two bidders shortlisted by Putrajaya, the other reportedly being Elenvi Otomotif – plans to set up the Malaysian International Motor Company (Mimco) to build electric vehicles that will go on sale in 2022.
In an interview with the publication, Alam Perkasa Group chairman Mohamad Mansor Ngah laid out his ambitious plans for the new carmaker and consortium, the latter also including an unnamed “leading Italian composite materials manufacturer” and both famed car designer Giorgetto Giugiaro and his son, Fabrizio. Giorgetto and Fabrizio set up a design studio, GFG Style, after separating with Volkswagen-owned Italdesign.
The most important bit out of the way first – Mansor claimed that the new venture is “ready to go” and does not require any public funding, having accumulated around RM5 billion in private funding. He also said that APC acquired the ownership and intellectual rights for a proprietary advanced modular platform (AMP) last year, which can be used to underpin everything from city cars to SUVs.
Mansor added that, if selected by the government, the company could have a working prototype of Mimco’s first model, the Giugiaro-styled Alif mid-sized SUV, within six months – in time to be displayed at the Geneva Motor Show in March. He said that the Mimco has already been given a slot to display the car at the show.
“It would be the second time ever a Malaysian vehicle is displayed at the event,” said Mansor, who said he had a hand in creating the first one, the Proton EMAS concept, as well as the Proton Prevé and the Youngman Artiga concept.
Mansor also rattled out some initial specifications of the car which, depending on the variant, will include a 230 km/h top speed and a range of 450 km from a 95 kWh battery. He said that the exposure from the Alif’s Geneva debut will cement the car in the global consciousness and boost marketing initiatives, especially in Europe. That’s important, as APC has its sights set on the export market from the get go.
In fact, the company aims to export vastly more cars than it will sell locally, with Europe, the United States and China earmarked as key markets. “The local market for hybrid and full EVs is small at present, so we will export 80% of the vehicles mainly to Europe and the US as we need to compete in the global auto industry and not be jaguh kampung,” Mansor said.
While the competitive EV industry in China (with around 400 manufacturers, said Mansor) would make breaking into that market tougher, Mansor said that APC plans to partner with Qiantu Motor, a subsidiary of its technical partner in the Middle Kingdom, to tackle the problem.
All in all, APC is targeting annual sales of 60,000 units per year for the Alif, which will come from the first phase of the company’s proposed plant that Mansor said is capable of being up and running within 24 months of being selected. “Based on our business plan, we are projecting a turnover of about RM14 billion from selling 60,000 units of Alif per annum,” Mansor said.
The car is set to be launched in Malaysia in 2022 if all goes to plan, with other markets following suit in 2023 once climate testing is completed. Of the 60,000 units to be built, 70% will be left-hand drive; Mansor also expects capacity to be ramped up to 160,000 units by 2025 for a second model, likely to be a city car.
To support the production of the car, APC is planning to develop a local vendor ecosystem within the same two-year timeframe as the factory, which will involve the recruitment of around 300 to 400 investors that will team up with foreign manufacturers to acquire the technology needed. This will be facilitated by Mimco itself.
“All vehicle components, including the powertrain – with the exception of the battery – will be made in Malaysia by Malaysian or Malaysian joint venture companies,” Mansor said, adding that the bid for NNCP was partly to secure a vehicle manufacturing licence from the government.
And how about this for a pièce de résistance – if all the pieces fall into place, APC aims to list Mimco on the New York Stock Exchange (NYSE) in the mid-term future to raise more funds, following in the footsteps of another electric car startup, NiO.
At this point, it should be pointed out that APC’s target of selling 60,000 units globally is a tall order at best. NiO only sold 17,550 units of its ES8 electric SUV in the first 12 months, and that’s in the world’s biggest automotive market (and the biggest for EVs), China. That company also has a number of big-name Chinese and foreign investors, including Tencent, Baidu, Lenovo and Singapore’s Temasek.
So, what do you think of APC’s plans for the third national car? Could it actually become a viable player in the industry, or are those stratospheric targets just a load of hot air? Sound off in the comments after the jump.
Macam Yes !!
This new third national car will definitely steal sales from Hyundai, Toyota, Honda, Perodua and Nissan
Rich Msians can now upgrade from P1 to this new third national car. Sapot local all the way!
But everyone must support for National Cars including this
But how are we going to ride a toy drone to work?
Why like your own comments, Wilson Khoo?
Copy paste: “Classic Madey songlap and bailout tactics.”
Hmm 95kw and 450km range? Are we producing our own batteries or buying from a supplier? Local vendors doing all these? Unlikely…
Copy paste from article: “All vehicle components, including the powertrain – with the exception of the battery – will be made in Malaysia by Malaysian or Malaysian joint venture companies,”
If we are buying battery then they are no different than the early days of proton when they used mitsubishi engines. The highest value add of the car being an imported cost item.
Another mega project designed by cronies to rip off insane rakyat who cannot think straight.Look at the huge mega billion rm bailout of P1.Now another huge money pit.Emphasis should be stimulating poor economy,not stimulating cronies’ bank accounts.Just pathetic,Pakatan Halangan.
Not trying to pour cold water but the proof is in the pudding; it’s an ambitious plan he got there but we should take it one step at a time and not get overly optimistic given the current state of business climate we’re in right now. We don’t hear Apple saying anything about their EVs and whatever we read and heard don’t sound very optimistic. Perhaps, he can learn a thing or two from Apple and focus on the actual product development and manufacturing and less on the marketing talk.
Perhaps, he can learn a thing or two from Tesla.
If Mimco’s first car will be named Alif, their next car must be named Mimco Ba, Ta, and so on
Alif?….sound like “Alive”…what ever it is, what i want to see is so called “peluang pekerjaan” must be around for locals first lah
Alif Bomoh perhaps – after that iconic Italiam marque
There’s nothing wrong with that. Lancia and Hyundai using Beta, Gamma, Theta and Nu names.
It’s gonna be Alif Ramlee, inspiration form Italian Alfa Romeo LOL
RM14 billion ÷ 60,000 unit. How much per unit?
USD50k or thereabouts. Obviously not competing on price. I guess the Italian designers are expected to produce world class iconic design, but then Malaysian manufacturing must deliver Japanese build quality! Good luck
At this price and specs it seems like it’s trying to compete with tesla model S. Good luck!
So terbang ke tak?
Terbang masuk tong sampah terus.. hehe
Haha ….haha …. haha
Flying car and now EV sports car … Malaysia memang Boleh
National car konon. Another shok sendiri project. Where does all the funds come from?
Did you even bother to read before commenting?
Terbaik!!..malaysia boleh!! :-)
In fact, the company aims to export vastly more cars than it will sell locally, with Europe, the United States and China earmarked as key markets. “The local market for hybrid and full EVs is small at present, so we will export 80% of the vehicles mainly to Europe and the US as we need to compete in the global auto industry and not be jaguh kampung,” Mansor said.
Finally someone realized it!!!
EV is a small market anywhere in the world. Make a high powered 2.5L turbo instead
they should also hire Elon Musk. lupa ka?
Alif by Alam Perkasa…just by the name you’ll know how the story will start and end…but well at least those ppl can buy themselves a nice Ferrari (which itself is distributed by another crony) after getting millions if not billions from the Rakyat. New gov, same old shhhhit.
If they do not need gahmen funding, why do they wait for gahmen approval?
Exactly.. i wonder about the same thing.
I think the path of potential ev in malaysia is plug in hybrid, electric scooter or bike, bus and commercial van. All this needs to be heavily subsidised or provided the recharge stations by the government
If the plan is so good, and they have RM 5 billion secured, why dont they just pursue the project without being a “national car project”? Why they need to bid for the project? I am sure they would have no problem getting manufacturing license with the funds and plans that they have.
Since the government maintain no public funds will be used, why again the bidding process?
Tesla is struggling big time to be profitable. Major manufacturers such as BMW.Mercedes, Ford and Fiat are working together and co-invest in EV technology to produce electric cars.
I dont now, sounds like a hot air to me.
They money will only come with Gohmen Guarantee… it looks like to fail and at the end the government and we the people will have to pay. Classic Madey songlap and bailout tactics.
Why it need approval?
It could be the package include special term like tax relief for certain period, special grant, land area, etv. The sort of things which makes starting up and sustaining first few years a little bit easier.
All these should be transparent which will make certain people really angry and start attacking using keyboard.
I’m sure it’s about regulation, taxation and publicity, less about funding from federal gov. If I’m an investor, I’d like to see the company do everything it can to maximize my return of investment.
60k units per annum? That is a cuckoo land figure. Ford mustang just sold 75k units in 2018. If they can manage 10k i will be amazed.
If he already has 5B in funding, why does he need to wait to be ‘selected’ by the government?
As long there are no public funds involve, definitely BIG YES.
Remember LMG trekker with their magic fuel
Going by so many government broken promises, this project looks more believable. NOT!!
daydreaming. they will struggle to launch even one model
5 billion private funding. Wow. Pipe dream. Tokkok only la this fella. Name also like hikayat2 thingy. If really have 5 billion, at least give us 1 prototype la. Give us saliva je buat apa.
Too far fetched with highly unrealistic sales numbers with, furthermore with in proven product.
If the government is backing the loans and loses it will definitely be Proton 2.0 whereby it will became a money making machine for Madeys cronies but will be a bottomless pit for bail out after bail out.
Giugiaros have created most b3st sell8ng carsxin thexworld including VW Golf and locally PERODUA Myvi. 60 million vehicles have been produced by European, Japab3sexand YSA manufacturers.
M8M Alif design is a cross image of Lamborghini Urus and Porsche Macan but its MIMCO own identity.
We offer Malaysia the latest platform and technology with body materials like composites including carbon fibre parts.
we all want hybrid frying swimming car
For those who are not well verse in auto making, APC technical partners have been in this businwss between 10 years to 50 years. I personally been collabirating with them for 2 decades in creating vehicles.
Many Malaysia popular cars like Myvi (Toyota Passo), Viva (Daihatsu Sirion), Preve and few of most popular Japanese cars wwre created our technical partners.
So now l hope you would think APC do have some knowledge in making vehicles.
It is not the technical partners we are worried about. It is the main con like yours with no track record that every sane malaysians are used to seeing, dropping names like nobody’s business with the banks and vc trying to get promised funding. For all we know, those partners and funders all come with strings attached and with conditions that govt has to provide this and that before they pump in money and share technical knowledge.
Why don’t we focus on industrial agriculture instead and secure our national food supplies bringing price of food cheap and affordable. The surplus of products can be easily exported to Europe, US and even more. Food is going to be a major need in the future.
RM 14B revenue for 60k units cars, bermakna RM 244k or abt 49,000 pound sterling per car. If they intended to produce a day-to-day-use passenger car, please look at the VW ID3 first, VW took years to develop the car which is still yet to be launched till at least 2020. VW cakap that the ID3 will b so good until it may replace the Golf in time to come, and more importantly, its price target is 35k pound sterling Sahaja. The Alif must b very very good to beat the ID3 interm of Brand, Technology, Reliability and Price, just in order to have a chance…. Ambition is one thing, Reality is another. Sekian Maklum
I picked up the statement below from a VW press release: So, like that ah, this Alif competitively priced or not for a newcomer like Mimco?
“The German auto giant is taking 1,000-euro deposits to secure one of the first in a new range of battery-powered models. The new ID.3 hatchback — which VW hopes will be the electric car successor to the iconic Beetle — will start at less than 30,000 euros, about the same level as the diesel variant of its best-selling Golf hatchback”
“Look at yourself in the mirror first lah!!! macam kata Brader Azmin kelmarin
Daily use car for commoners is a difficult market. Look how hard for proton and perodua to penetrate even UK market alone against the well established brands. On the other hand, EV is the future. By 2030 many countries will prohibit the sales of ICE cars, or limit it with very strict emission. If they start now, it will bear fruit later.
Sembang wal kencang
and yes from me as well !!
go Malaysia go!
sounds promising & c’mon my dear fellow Malaysians,
lets unite, hands in hands together we will make it happen
let us all rise again in the eyes of the world
for our beloved country oh MALAYSIA!!!
Please focus on projects that is really grounded, beneficial to the rakyat. This Alam Perkasa is obviously syoik sendiri, sendiri masuk-angkat bakul project destined to be doomed when funding is finished. Just a matter of time. Supercar, sports car markets is saturated and very competitive lah around the world.
Why, why, why that Malaysian are so screwed (despite decades of screwing) with such automotive projects??
Same mindset people told Elon Musk of Tesla and SpaceX. Similar to Tony of AirAsia. so we are not moving forward then.
They did that without government money and they didn’t need to ask permission from government first. So why do Alam Perkasa see that need to gain permission? Something doesn’t add up.
Proton sold 49.9% share to geely for RM460mil after protected for more than 30years. Suddenly this company got RM6bil. Which idiot willing to spent so much money? Who are the directors? Syed? Ali? Murky? Or Mirsan?
Us. Unwilling but forced to be willing, since we had voted them in. effing regret now.
More than 90% give negative comments.
I believe they can do it and successful. They should learn about failure and success of Malaysia automotive industry.
Success – having a domestic market of 100million to start.
Failure – having a domestic market of 30million to start.
Soon they will announce the project is gajah terbang SUV.
My toes are laughing
Another complicated ‘scam’ to be made. Nothing complicated to be understood.
Its going to be huge disaster. Even worse than proton. someone will lose their money, like, a lot. And Phancing government should be blame, especially atok, who started shitty 3rd national car project in the first place. He started something that people doesnt even want. Hes in proton and lotus few years back and fail to do anything, Like what he did now as PM. His answer always “saya tak tau”, “saya tak masuk campur”, “ini semua salah kerajaan dulu”. Atok bertaubat lah
RM6b would have been better spent on Lotus than all this crap!
Talk is cheap. You can say anything you want. Let’s see what happens in the next 2-3 years. Although we are all happy to see successful Msian products but my mind tells me this is all rubbish talk.
TQ PH.. for kereta terbang at RM20K perunit.. Hidup PH..
Tesla is world famous Electric Vehicle (EV) brand and admired by many including Malaysians.Tesla started with USD 500m soft loan from USA Government eventhough they have no track record in car manufacturing. The soft loan was given based on their paper proposal.
Prior to listing in NYSE, Tesla raised USD 3bn from private investors. Once listed in NYSE, Tesla market capitalisation went up as high as USD 63bn. Its market capitalisation now is around USD 43bn eventhough they have lost money every year since they start production of their vehicles.
NIO of China also have zero experience in vehicle manufacturing. They raised USD 1.5bn prior to listing in NYSE. Their market capitalization now is around USD 12bn.
Alam Perkasa Consortium technical partners from Italy and China have vast experience in vehicle manufacturing from designing the concept car to manuf
acturing stage.
Due to Non Disclosure Agreement )NDA) with clients, the list of clients cannot be made public. However this list was submitted to Malaysia Government in our proposal. The list include mass production economy cars s8uch as PERODA Viva to limited series supercars with prices in multi mllion RM each.
Giugiaro have created many of best selling vehicles like VW Golf and many others from automotive manufacturers in Japan and Korea. You may find out more by just clicking Giugiaro in yur internet.
With these partners, Alam Perkasa have studied and planned the right product to manufacture for the global market trend that is Electric and Hybrid power vehicle at the price that is competitive and quality level of European vehicles.
Alam Perkasa bringing to Malaysa world no 1 automobile designer, one of the world leading in light body engineering company and one of China leading disigning and engineering company yet many are cynical of what we are offering. Do you think these companies will team up with a Mat Jenin (dreamer) outfit?
Please also know that we are undertaking this with wholly private funding and not Malaysia Government (rakyat) money.
So is this cynical out of ignorance or we Malaysians think Malaysians are just not capable to be as good as European or Japanese or Korean.
Sir Mansor,
OK. we’ll wait and see how it goes. 2020 for 1st prototype wont be a long time from now. Pls wow! us when the day comes.
Do all that without Gov money boleh tak?
Please stop to name it Nasional car project. That’s the way to songlap rakyat money once the project fail.
Well isn’t that their purpose? Jeng jeng jeng!!!
Yes… All going according to keikaku.
Dont like the front grill.
“Acquired rm 5 billion in private funding”
Is it just me or does anyone else here smell something stinky… Like bull manure?
Madey is always Madey
No mention of charging stations within Malaysia.