Thursday 28 Mar 2024
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This article first appeared in The Edge Financial Daily on October 24, 2019

TOKYO: Daihatsu Motor Co Ltd, which will provide advanced technology for Malaysia’s proposed third national car, said yesterday it has just started talking to DreamEDGE Sdn Bhd about the project.

On Aug 9 this year, the ministry of international trade and industry announced the appointment of DreamEDGE as the lead Malaysian anchor company to work on the new national car project, with the advanced technological support from Daihatsu Motor.

It has been reported that the first model of the new national car, likely to be a hybrid C-segment sedan model, is set to be launched in March 2021. The names of the brand and model, however, have yet to be decided.

Yesterday, Daihatsu Motor president Soichiro Okudaira said: “[We] had just started talking with DreamEDGE [about] the future but we can’t [reveal] details.”

“So far, we cannot say anything. It will be informed later,” Okudaira told Malaysian reporters at the Tokyo Motor Show here.

In August, DreamEDGE founder and chief executive officer Datuk Khairil Adri Adnan said investment in the project will involve “a few hundred millions”, adding that the company is still looking at a few fundraising options.

Khairil also did not reveal details of the agreement between DreamEDGE and Daihatsu Motor, saying the Japanese auto company will not be an equity partner, adding that the technological collaboration may include technology exchange of the platform to be used, as well as engine development.

Malaysia already has two national car projects under Proton Holdings Bhd and Perusahaan Otomobil Kedua Sdn Bhd (Perodua).

Perodua’s website shows that Daihatsu Motor and Daihatsu (M) Sdn Bhd own 20% and 5% respectively of Perodua.

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