By BERNAMA / Pic By ISMAIL CHE RUS
Entrepreneur Development Minister Datuk Seri Mohd Redzuan Md Yusof (picture) yesterday said only part of the RM20 million fund, which is the existing allocation for research and development (R&D) for the ministry, will be used to develop the third national car prototype.
He said the Entrepreneur Development Ministry (MED), like other ministries, has grants for R&D and he had brought forth his views to the Cabinet to utilise this fund to create the national car prototype.
Speaking at a press conference after the pre-launch of the Malaysia Halal Expo 2019, Mohd Redzuan also said the cost to build the national car prototype would be much lower than that.
“The ministry is estimated to have RM20 million in the R&D fund, and we are not using all of this (fund) to produce the prototype as we admit the cost to develop the prototype is much lower than that,” he said in response to views by certain quarters who disputed the ministry’s move to use government funds to develop the national car project.
Yesterday, Mohd Redzuan reportedly said his ministry had approved close to RM20 million of funds to attract private investors to develop the prototype for the third national car.
Mohd Redzuan, meanwhile, said critics of the third national car project do not understand the implicit benefits behind the idea.
“When talking about the automobile industry, it will involve a lot of other engineering activities, because car manufacturing needs a lot of expertise and that’s why we must create a model or prototype which, of course, needs funding,” he said. — Bernama