Five years ago Holden executives were secretly hatching a plan to save the brand by teaming up with the Chinese car maker behind MG and LDV. Now looking back in 2025 as Chinese brands win over Aussie hearts, the move would have been one of pure genius that would have seen Holden not just survive but maybe even thrive.
The deal was close and it could have worked incredibly well, given what we know now. The plan would see Holden and Chinese auto giant SAIC enter an agreement allowing MG cars and LDV utes to be rebadged as Holdens.
This was all happening in 2020 - three years after Holden’s parent company General Motors had shut down local manufacturing. The Aussie-built Commodore was replaced with an imported Opel Insignia wearing a Holden badge. The move left Holden in a horrendous situation where it was having to scrape around at the bottom of the auto barrel looking for right-hand-drive vehicles within General Motors global portfolio - the Cruze, for example, was a Daewoo Lacetti Premiere which garnered a reputation for mechanical problems.
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The deal with SAIC was far more promising. GM already had a joint-venture with SAIC in China, so there was already technology sharing between the companies. But just as Holden’s executives were about to act General Motors announced Holden would end operations at the end of 2021.
Holden’s interim chairman and managing director Kristian Aquilina faced a parliamentary inquiry in 2020 into the closure where he was grilled by Senator James McGrath. Reading the minutes of the inquiry reveal Senator McGrath asking if Holden would be sold to a Chinese owner.
“I just want to get reassurance from you in relation to the Holden brand. MG, a famous British automobile company, is now owned by a Shanghai-based state-owned company in China. Can you give us an assurance that General Motors won't sell off the Holden brand to, for example, a state-owned company in China, or indeed any other company? Can you give us that assurance?” asked Senator McGrath
Aquilina's response was firm: “I'm not going to address any hypotheticals, but I want to assure you of this: Holden remains within our ownership, within General Motors ownership.”
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The exchange showed what appears to be a nervous and hostile attitude toward the prospect of the Australian brand being owned by another carmaker.
But a Chinese owner might have helped Holden more than the American one - which left it with nothing.
Looking at how dramatically the world’s car landscape has changed with Chinese manufacturers moving at an almost impossible speed both in the development of battery technology and production of high quality, stylish cars makes you think that a Holden owned by Chinese owners may have been a much better prospect.
The suggestion also by the Senator that MG was somehow worse off under SAIC ownership is questionable now. MG produced 700,000 vehicles in 2024 and 50,000 of them were sold in Australia, making it the seventh most bought car brand here. MG has never been more successful, never sold more cars AND never been driven by more people.
A Holden under SAIC ownership or close joint venture would have probably seen the brand offered in a range of petrol, diesel, hybrid and electric vehicles at prices that would have been affordable.
Sure, SUVs would have absolutely formed the backbone of a 2025 Holden model line-up, but the MG3 could have been given a Barina badge and there would have even been room for a halo car in the same way MG has the Cyberster - an electric Monaro maybe? Ok, maybe not that far. But a electric Caprice luxury Car? That could work.
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Plus, Holden 4x4 utes could have been a thing again. SAIC could have drawn on the same ladder-frame architecture that underpins the LDV T60 ute or the eT60 ute, which might have helped Holden beat old rival Ford to the electric ute post.
Of course, there’s the electric Holdens that could have been had the brand been sold to SAIC. The excellent MG4 would have been a perfect electric Holden Cruze - possibly one of the best Holdens ever in its new EV form.
Then there’s all the Holden jobs which could have been saved. Sure, maybe not the production line folks, but the design teams and the engineers could have continued on in some form, as is the case with MG's design studio in London.
Even today with a new version of the Holden Commodore exists in China as the Buick Regal GS. It's an Opel Insignia-based ZB Commodore and despite the platform being owned by Stellantis now, thanks to a loophole the car can be sold as a Buick by SAIC-GM in China. Yes, even the Commodore could have easily lived on here in Australia, even if it was made in China.
Not to mention the other Chevrolet models the brand could have drawn from like the next-generation Equinox which is currently assembled in China.
Of course none of this happened. General Motors wanted to keep rights to the Holden brand for at least 10 years as it said it wanted to provide service and support to owners for at least a decade.
Perhaps in five years time General Motors will sell the Holden brand to SAIC, or Geely or BYD. Would people really think that's a bad idea now? Will anybody even remember Holden then? Then again, it did work for MG...
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