GM’s Australian arm, Holden, will be helping develop the Chevrolet Camaro before its official release in 2008. Holden has had experience developing the Pontiac GTO (called the Monaro downunder) for the US market, and will be finetuning the chassis that underpins the Camaro. The Camaro is built on a A$1b platform developed by Holden that may also eventually make its way stateside under the guise of the new Pontiac Grand Prix. Holden is building the Camaro prototypes with a team of US engineers and it's expected that they will be completed by Christmas, Australia's Drive reports.
Though GM won’t be building the Camaro in Australia (Canada gets to do the honours), enlisting the help of Holden is a good sign that GM is it very very seriously. Holden has had extensive experience developing high-performance rear wheel drive cars, and their sports sedan range is considered to be amongst the best sold anywhere.