Tags: AS | Australia | General | Motors

GM Gets $288 Million Australian Assistance Package

Wednesday, 21 March 2012 09:04 PM

The Australian government has announced a 275 million Australian dollar ($288 million) assistance package for General Motors Co. to guarantee it continues to manufacture cars in Australia for another decade through its subsidiary Holden Ltd.

As part of the deal, U.S.-based GM said in a statement Thursday it has agreed to invest more than $1 billion in car manufacturing at its Melbourne and Adelaide plants until at least 2022.

Holden will use the government assistance to design and build two all-new cars for the global market after 2015, the statement said.

Prime Minister Julia Gillard says GM had considered closing its entire design and manufacturing operations in Australia.

Holden is one of seven fully integrated global GM operations that designs, builds and sells vehicles for domestic and international markets.

© Copyright 2018 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

1Like our page
Wednesday, 21 March 2012 09:04 PM
Newsmax Media, Inc.

Newsmax, Moneynews, Newsmax Health, and Independent. American. are registered trademarks of Newsmax Media, Inc. Newsmax TV, and Newsmax World are trademarks of Newsmax Media, Inc.

© Newsmax Media, Inc.
All Rights Reserved