An intelligent knowledge-based system for product cost modelling is presented in this paper. The developed system has the capability of selecting a material, as well as machining processes and parameters based on a set of design and production parameters; and of estimating the product cost throughout the entire product development cycle including assembly cost. The proposed system is applied without the need for detailed design information, so that it can be used at an early design stage, and, consequently, redesign cost and longer lead time can be avoided. Hybrid knowledge representation techniques, such as production rules, frame and object oriented are employed to represent manufacturing knowledge. Fuzzy logic-based knowledge representation is applied to deal with uncertainty in the knowledge of cost model to generate reliable cost estimation. This paper deals with cost modelling of both a machining component and an injection moulding component, which is a process that gives high production rates, excellent quality and accuracy of products, and low manufacturing cost. Based on the analysis of the moulded product life cycle, a computerbased cost model was developed which integrated the relationship between cost factors, product development activities, and product geometry. The estimated cost included the costs of material, mould and processing. The system has been validated through a case study.