Federal Government hand Holden $215m
The Federal Government is providing $215 million to assist General Motors Holden Australia's second best-selling vehicle manufacturer to keep its factories open in Australia
The Federal Government is providing $215 million to assist General Motors Holden Australia's second best-selling vehicle manufacturer to keep its factories open in Australia. The Federal Government investment is on top of the South Australian Government's hand-out of an additional $50 million, with an extra $10 million from Victoria as well.
he $275 million funding package will be granted to Holden in exchange for a $1 billion investment from the US parent manufacturing company to GM Holden, to make two new car models (not necessarily for Australian consumers) at its Adelaide plant and with a guarantee that Holden will remain in Australia for at least another decade.
The Federal Government has set aside more than $3.5 billion to implement the Government's New Car Plan in support of the automotive industry as more than 1 million new vehicles are sold annually along with vehicle component exports worth more than $3 billion a year.
The Federal and Victorian governments will also provide an extra $35 million to assist component manufacturers', to increase sales abroad. Holden's biggest automotive export markets are the Middle East, Asia and the US - soon to sell the locally produced Commodore as a re-badged Chevrolet.
- Register Now
- Court orders Greek broadcaster ERT back on air
- Community condemns ERT closure
- Modern Greek tragedy
- Abusive crackdown on migrants
- Outstanding Greek Australians honoured
- Xenophon warns of data sweep danger
- ERT's demise impacts SBS
- ERT suspension 'sinful', says Megrelis
- The thief strikes back
- Memories of an Egyptian multicultural society
- 22 May 2013 | 16 Votes
- 10 Jun 2013 | 16 Votes
- 28 May 2013 | 15 Votes
- 30 May 2013 | 12 Votes
- 11 Jun 2013 | 7 Votes
- 27 May 2013 | 7 Votes
More from this Section
- Dollar for dollar
- Better energy policies for Australia, says Liveris
- My inheritance in Greece and how to claim it
- What is an estate plan? Part one
- Dozens of lenders cutting fixed rates
- House prices
- Aussies are paying off their credit cards
- Financial health check
- Bank of Sydney appoints new CEO
- On his way to 'a safe haven'
AHEPA Victoria Second Annual Scholarships Ceremony was hosted last Sunday, awarding the best and brightest students of AHEPA who completed Year 12 in 2012
Bill and Jim Karras pretended they were in a gay relationship to receive the first homeowners grant
15-year-old all round performer Nick Drossos is set to take on the world
The small village of Anavra in Thessaly has managed to do what most European couldn't dream of achieving
IMF review of Greek bailout highlights a series of errors
Athens became a sea of rainbows as thousands marched in unison at the 9th Gay Pride Festival.
Licences will be reduced to an annual $22,000 fee, while drivers will get a share in fares and rural and disabled customers will benefit
Tuesday's qualifier will be another litmus test to see if the Australian team is good enough for the World Cup
State League leaders West Adelaide Hellas still remain undefeated
Expectations are high for the first NSL derby of the season, with South Melbourne hosting Melbourne Knights
The initiative of the Greek Government to shut down ERT in order to restructure the national television and radio broadcaster is already threatening the stability of the govt
Shakespeare's play Othello is set to take a Hellenic twist with a Greek Australian actor in the show as well as a stage set both in Venice and Cyprus.
Hume City, Green Gully, Melbourne Knights and Bentleigh Greens had not submitted an EOI before Friday
Academy Award winning actress, Greek American Olympia Dukakis, has been honoured with the 2,498th star on the Hollywood Walk of Fame
The news that the Greek Government has ordered the closure of Greece's ERT and surrounded its buildings with troops is a monumental blow against freedom of speech
83 per cent of Neos Kosmos readers believe Australia should cut it's ties with the English monarchy and become a republic according to the results of the Neos Kosmos poll.
An arson attack and a break-in and theft of documents and hard drives earlier in May, is believed to be the work of a ring of civil servants
Creditor representatives call for measures to plug the budget gap for 2013 and 2014, equal to 2.1 bln euros