GM Holden has been reported to have sought, with some likelihood of success, Commonwealth (federal) government aid to begin building its home-grown version of the Chevrolet Volt in Australia, though it has not issued any release to confirm the media reports, which have spoken of a sum of up to US$73m.
But GM Holden has issued a release regretting that the Commonwealth Government forwarded, in error, a number of confidential documents relating to the Australian automotive industry, including a number of highly confidential and previously undisclosed pieces of information relating to the future plans of the country’s three major OEMs – itself, Ford and Toyota.
Holden said none of the manufacturers concerned has seen the full unredacted copies of the leaked documents, as they contain commercially sensitive information related to each of them.
Holden said it has no objection to open discussion on government co-investment in the auto industry. “This is something that occurs in every car producing nation, and the per capita investment that is contributed towards the Australian car industry is among the lowest of all developed countries in the world. The basis for the government’s co-investment in Holden, announced in March 2012, has already been openly communicated and that information is in the public domain.”
Based on the current plan, and GM’s investment of AUS$1bn (US$1.02bn), Holden expects there will be a return of over AUS$4bn to the Australian economy through to 2022.
