PRIME Minister Dr Mahathir Mohamad today said he did not approve a government agency investing in the new national car project after Putrajaya had repeatedly stressed public funds would not go into the project.

“I didn’t approve it. But, it has been done. Lots of government agencies when they see something good that is about to take off, they think they should have a piece of the cake.

“DreamEDGE is doing a lot of things and they seem capable. Then, other government agencies would like to have a piece of the action,” he said after attending the Kuala Lumpur International Airport 21st Anniversary.

On Sunday, MCA president Dr Wee Ka Siong had questioned Putrajaya’s claim that the new national car project will not involve government funds.

He said the car’s developer, DreamEDGE Sdn Bhd, received government funds through the Malaysian Industry-Government Group for High Technology (MIGHT).

MIGHT, which is owned by the government, has 100% ownership of a company called Venturetech Sdn Bhd, which is DreamEDGE’s largest shareholder, Wee said in a Facebook post after the national car project was announced.

Dr Mahathir said the automobile industry was not doing too well and the third car project was one way of bossting the industry.

“We are moving away from the normal oil-based engines to hybrid and electric ones.

“We have to make that progress because if you want to have a third car it should be capable of at least hybridisation.

“It should be driven by battery but an engine must be put in, in order to recharge that battery, and that will take the car maybe 1,000 miles (1,600km). So we’re moving in that direction.”

He said the automobile and aviation business is not static.

“Everything changes, if you don’t keep up you will be left behind. Our intention in introducing a third car is to stimulate the engineering industry.” – August 13, 2019.