While Holden said it would fulfil its commitment to the championship this year,it was less certain about having a presence in Australian motorsport into the future. That is despite its partnership with Triple Eight Race Engineering,through the Red Bull Holden Racing Team,being set to run until the end of the 2021 championship. Seven other Supercars teams are also set to race Holden Commodores in 2020.
Urgent discussions between Holden,Supercars and Triple Eight are expected to be held in the next few days.
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"Our intention is still to go racing in 2020 whilst we've still got Holden vehicles out there in dealer showrooms,"Holden's interim chairman and managing director Kristian Aquilina said.
"To the extent,about GM and its involvement in racing beyond that,that will be part of the same conversation."
Holden has been a part of Australian touring car racing since the 1960s,with iconic names such as Peter Brock,Craig Lowndes,Mark Skaife and Jamie Whincup becoming synonomous with the Red Lion.
"Today's news is understandably disappointing for fans who have followed Holden's success in Australian Touring Cars and Supercars since its debut in the 1960s,"Supercars said in a statement.