GM Holden is building Veritas at its vehicle assembly plant in Elizabeth, South Australia and the Global V6 engine at its engine operations plant in Port Melbourne, Victoria.

GM Holden Chairman and Managing Director, Mark Reuss, described the vehicle as a great addition to Holden’s export portfolio demonstrating the company’s reach and flexibility.

Reuss was joined by Federal Minister for Trade, the Hon. Simon Crean MP and Victorian Minister for Industry and Trade, the Hon. Theo Theophanous MLC at a ceremony at GM’s Holden headquarters in Port Melbourne.

Reuss said GM Daewoo had drawn on Australian expertise and resources for a vehicle tailored to meet the needs of the Korean market.

"GM Holden develops its large cars to be world class and we are seeing that paying dividends with new export programmes like the one announced today," Reuss said on Friday 5th September, 2008.

"Cars we build here in Australia are being exported to every continent except Antarctica for brands including Holden, Chevrolet, Pontiac, Vauxhall and GM Daewoo."

"And with the engine in the Veritas also being built by Holden, it’s fair to say we are exporting the complete package."

"Exports are an increasingly important part of our business and Veritas again proves we have the capability to design, engineer and build vehicles for a wide range of consumers and markets."

Based on GM’s Global Rear Wheel Drive architecture, Veritas is powered by a 3.6 litre Alloytec V6 and is fitted with a five-speed automatic transmission with fully optimised gear ratio settings, Active Select and Sport Shift.

The vehicle, based on the L4X show car which made its debut at the 2007 Seoul Motor Show, is expected by GM Daewoo to redefine the premium image of a large sedan in Korea.

Veritas will boast segment-leading legroom in the Korean market as well as luxury features including massaging rear seats, electric-adjustable headrests and LCD screen and headset.

GM Daewoo President and CEO, Michael Grimaldi said at the Veritas launch in Korea that the car reflected GM Daewoo’s determination to take Korea’s large sedan segment to an entirely new level.

Korean customers were well known for their high expectations on rear passenger comfort and features.

“This luxurious rear-wheel-drive sedan offers excellent driving performance while ensuring unmatched interior comfort, spaciousness and safety,” Grimaldi said.

“Veritas represents the start of a new era for GM Daewoo, as we begin to replace our entire current product line-up with new segment-leading models between now and 2010.”

Veritas is the second export arrangement for Australian-built vehicles between GM Daewoo and GM Holden. In 2005, GM Holden exported nearly 2,000 of the previous generation WL Statesman to Korea marketed as the GM Daewoo Statesman.