INEOS is an auto startup like DreamEdge and it is already millions in the red
British chemical engineer and billionaire, Jim Ratcliffe, made headlines when he attempted to buy the classic Land Rover Defender from Jaguar Land Rover (JLR) to continue producing it and making it more modern of course.
He also wanted to buy the name and production facilities so that his company INEOS could continue to build it. JLR management disagreed, so Ratcliffe decided to venture on his own with a brand new partnership with BMW for the engines.
INEOS Automotive, which was set up to build a brand new 4×4 vehicle dubbed ‘Projekt Grenadier‘ in the UK last week reported a Euro 51 million (RM236 million) loss for its first 11 months in operation.
This was thanks to Euro 41.4 million of research and development costs and administrative expenses of Euro 8.8 million.
Looking at this huge multi million expense in just 11 months we are just wondering what kind of investment will go into the Malaysian 3rd national car where DreamEdge is partnering with Daihatsu to produce a car that might actually be an initial product of Toyota.
Does DreamEdge have available RM236 million plus ready to start this product for the first year?
Will it need tax payer funds to keep moving forward?
Meanwhile, INEOS Automotive said its new car would be a ‘rugged, reliable and an uncompromising 4×4 off-road vehicle.
