Holden secures $275m subsidy
GM HOLDEN will keep making cars in Australia for at least another decade after securing a subsidy package from the federal and South Australian governments worth $275 million.
Prime Minister Julia Gillard, SA Premier Jay Weatherill, Holden chairman Mike Devereux and vehicle union boss Ian Jones were in Canberra for the announcement.
Holden, which like other manufacturers has suffered from the high Australian dollar and rising production costs, threatened to shut down its local operations altogether unless the government committed to a further assistance package beyond 2015.
Mr Devereux will pledge to stay in the country until at least 2022.
Holden will continue local production of the Commodore until 2016 when it will be replaced by one of its parent company's US models, it was reported last night.
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