The government has dropped a bombshell today, announcing the company that will be responsible for the much-vaunted new national car. The reins have been given to DreamEdge, a Malaysian innovation and digital engineering services company that has dabbled in automotive design and engineering.

Not much has been revealed just yet, but we do know that this is a completely private enterprise that will not use public funds, with the government only to be tapped for potential incentives or grants – at least, that’s the plan. DreamEdge has also named Daihatsu (yes, that exact Japanese carmaker that’s already tied up with Perodua) as a technical partner, although it will not have any equity in the new venture.

What does all that mean for the first car, expected to go on sale in March 2021? Well, you can watch the video above and let our man Hafriz Shah explain it all in finer detail. Oh, and let us know what you think in the comments section after the jump.