Close to RM20 million has been approved by the Ministry of Entrepreneur Development (MED) to attract private investors in developing the third national car prototype, also known as the New National Car Project (NNCP). The fund was sourced from several existing grants, according to the ministry’s boss, Datuk Seri Mohd Redzuan Yusof (pic).

“"The idea is that we become the catalyst for the new national car project.

"I'm not developing the third national car project, I am facilitating to create an environment for the new national car project," he told reporters after officiating the Bumiputera Entrepreneurship Empowerment Initiative programme.

Several vendors have been short-listed to develop the prototype. Let’s not forget to note that previously he had boldly stated that a prototype and production model should be ready for reveal by 2019/2020. Seems a bit tight now.

Also previously, finance minister Lim Guan Eng had stated categorically that NNCP will not use people’s money. In fact, the whole plan was supposed to be financed with up to USD400 million from a wealthy Qatari Sheikh, revealed by federal territories minister, Khalid Samad.

So, will start with RM20 million instead.