Holden has finally unveiled its VF Commodore, which the struggling car maker hopes will underpin its future in Australia.
The VF is the first new Commodore to be released since 2006, and the 15th incarnation of an iconic Australian model which first hit the nation's streets in 1978.
With Holden receiving millions in subsidies and grants from the federal, South Australian and Victorian governments, managing director Mike Devereux said the company was committed to delivering value for taxpayers.
'I think we owe the taxpayer a big return on investment - the VF Commodore will generate over $2 billion of economic activity during its life in this market,' he told AAP.
'We're pretty proud of what we do in this country for this country.
'Absolutely the taxpayers deserve a great return and I think we give them that.'
Mr Devereux said the VF was 'the most technologically advanced car ever created in Australia', describing it as safer, more fuel efficient and user friendly than the previous VE model.
'Our aim with the new VF Commodore was to create a car that challenged some of the broader perceptions people have about the traditional Australian-made large car,' he said.
Mr Devereux said the VF, which is to be manufactured at the company's Elizabeth plant in South Australia, would be exported to the US through sister company Chevrolet.
Despite suggestions to the contrary, Mr Devereux recently confirmed the VF would not be the final Commodore.
'I can categorically tell you that we have already begun working on the Commodore that comes after this one,' he told reporters.
'People love this name plate and we're going to have another one of these.'