<P> Holden revived the Monaro coupe in 2001 . Based on the VT Commodore architecture, the coupe attracted worldwide attention after being shown as a concept car at Australian auto shows . The VT Commodore received its first major update in 2002 with the VY series . A mildly facelifted VZ model launched in 2004, introducing the High Feature engine . This was built at the Fishermans Bend facility completed in 2003, with a maximum output of 900 engines per day . This has reportedly added A $5.2 billion to the Australian economy; exports account for about A $450 million alone . After the VZ, the High Feature engine powered the all - new Holden Commodore (VE). In contrast to previous models, the VE no longer used an Opel - sourced platform adapted both mechanically and in size, but was based on the GM Zeta platform that was earmarked to become a "Global RWD Architecture", until plans were cancelled due to the 2007 / 08 global financial crisis . </P> <P> Throughout the 1990s, Opel had also been the source of many Holden models . To increase profitability, Holden looked to the South Korean Daewoo brand for replacements after acquiring a 44.6 percent stake--worth US $251 million--in the company in 2002 as a representative of GM . This was increased to 50.9 percent in 2005, but when GM further increased its stake to 70.1 percent around the time of its 2009 Chapter 11 reorganisation, Holden's interest was relinquished and transferred to another (undisclosed) part of GM . </P> <P> The commencement of the Holden - branded Daewoo models began with the 2005 Holden Barina, which based on the Daewoo Kalos, replaced the Opel Corsa as the source of the Barina . In the same year, the Viva, based on the Daewoo Lacetti, replaced the entry - level Holden Astra Classic, although the new - generation Astra introduced in 2004 continued on . The Captiva crossover SUV came next in 2006 . After discontinuing the Frontera and Jackaroo models in 2003, Holden was only left with one all - wheel drive model: the Adventra, a Commodore - based station wagon . The fourth model to be replaced with a South Korean alternative was the Vectra by the mid-size Epica in 2007 . As a result of the split between GM and Isuzu, Holden lost the rights to use the "Rodeo" nameplate . Consequently, the Holden Rodeo was facelifted and relaunched as the Colorado in 2008 . Following Holden's successful application for a A $149 million government grant to build a localised version of the Chevrolet Cruze in Australia from 2011, Holden in 2009 announced that it would initially import the small car unchanged from South Korea as the Holden Cruze . </P> <P> Following the government grant announcement, Kevin Rudd, Australia's Prime Minister at the time, stated that production would support 600 new jobs at the Elizabeth facility; however, this failed to take into account Holden's previous announcement, whereby 600 jobs would be shed when production of the Family II engine ceased in late 2009 . In mid-2013, Holden sought a further A $265 million, in addition to the A $275 million that was already committed by the governments of Canberra, South Australia and Victoria, to remain viable as a car manufacturer in Australia . A source close to Holden informed the Australian news publication that the car company is losing money on every vehicle that it produces and consequently initiated negotiations to reduce employee wages by up to A $200 per week to cut costs, following the announcement of 400 job cuts and an assembly line reduction of 65 (400 to 335) cars per day . Between 2001 to 2012, Holden received over A $150 million a year in subsidy from Australian government . The subsidy from 2007 was more than Holden's capital investment of the same period . From 2004, Holden was only able to make a profit in 2010 and 2011 . </P>

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