Holden to Stay in Australia After $200 Million Deal, New Commodore Coming to the U.S. as a Chevy?

The United States and Canada aren't alone in supporting General Motors and its companies.

The Australian government is also doing its part to keep GM's local subsidiary Holden in the country by promising a subsidy package worth more than AU$200 million (US$210 million) after the automaker threatened to shut down its operations if it did not get financial aid beyond 2015.

While Holden has yet to issue an official statement, Australian news daily, The Age, reported that the country's Prime Minister Julia Gillard, along with South Australian Premier Jay Weatherill, Holden chairman Mike Devereux and vehicle union boss Ian Jones will be in Canberra today for the official announcement.

After securing the financial assistance, Holden is said to continue producing cars in the country until for at least another 10 years. According to sources, Holden has promised to invest some AU$750 million in its Australian operations during this period.

Interestingly, the newspaper said that Holden will "soon confirm an export deal to sell Commodores in the US, where the car will carry a Chevrolet badge."

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