The car maker Holden will stay in Australia for at least another decade after a lifeline bailout from the Australian federal and state governments.
Holden will get $A275 million to help keep its car plants open in a deal which Prime Minister Julia Gillard insists is a "co-investment", not a hand-out.
The cash injection was announced on Thursday after talks between government officials and Holden's American parent company General Motors in Detroit.
In return, Holden will invest about $1 billion dollars in new vehicles.
