How was the RM20 million intended to be used for the national car project?

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The RM20 Million Was Allocated for the New National Car Project's Innovation and Development

The RM20 million allocated by the Malaysian Industry-Government Group for High Technology (MIGHT) was intended to fund the innovation, research, and development of the New National Car Project (NNCP). This allocation was specifically designated for the NNCP, with DreamEDGE Sdn Bhd selected as the anchor company and MIGHT leading the initiative. The objective of this national car project is to develop new technologies focused on energy conservation and the implementation of hybrid systems, areas where the designated company possesses expertise.
Funding for Innovation and Research

The RM20 million was explicitly stated to be used for funding the innovation, research, and development phases of the NNCP. This clarification came from the Entrepreneur Development Ministry, which addressed earlier confusion regarding the funds' intended purpose. The ministry asserted that the allocation was not for an aerial mobility project, commonly referred to as a "flying car," but rather for the advancement of the national car initiative.
Anchor Company and Leadership Structure

DreamEDGE Sdn Bhd was appointed as the anchor company responsible for spearheading the New National Car Project. MIGHT was designated to lead this venture, indicating a collaborative effort between government-linked entities and a private company. This structure was established to guide the project's direction and ensure the effective utilisation of the allocated funds towards its stated objectives.
Technological Objectives of the National Car Project

The primary goal of the NNCP, as outlined by the ministry, is to develop cutting-edge technologies that prioritise energy conservation. A key aspect of this development involves the utilisation of hybrid systems, a technological domain where DreamEDGE Sdn Bhd has demonstrated expertise. The intention behind this focus is to foster advancements in automotive technology within Malaysia, aligning with global trends towards more sustainable transportation solutions.

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How was the RM20 million intended to be used for the national car project?

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