The future of the V8 Supercars championship-winning Red Bull Racing team has been secured.
Holden has announced a multi-year extension to its partnership agreement with the team, which boasts current V8 Supercars drivers champion Jamie Whincup and five-time Bathurst 1000 winner Craig Lowndes.
The agreement secures the ongoing future of the team, which previously competed as TeamVodafone when it switched from Ford to Holden for the 2010 season.
In four seasons under Holden the team has won three V8 titles and four teams championships, claiming 67 race wins and 55 pole positions and two victories in the Bathurst 1000 at Mount Panorama.
Team owner Roland Dane says continuing the partnership with the manufacturer is a huge plus.
"Holden's continued commitment, in what is a changing marketplace, not only demonstrates their faith in V8 Supercars, but also highlights the importance of motorsport as a fantastic sales and marketing tool," Dane said.
The news will come as a relief to V8 Supercars chief executive James Warburton with the future of Holden and Ford in the V8 Supercars still up in the air.
Both manufacturers will cease production in Australia in 2017.
An extension of Holden's partnership with their flagship Holden Racing Team outfit is yet to be confirmed while Ford Performance Racing's factory-backing with Ford is also yet to be renewed beyond the end of 2014.
Warburton welcomed Thursday's announcement, saying it was encouraging to have Holden commit to Red Bull Racing.
"GM Holden is an iconic Australian brand with a long and successful history in motorsport and we are delighted that Holden has again committed its support to V8 Supercars," Warburton said.
The V8 Supercars championship will continue with the Perth 400 at Barbagallo Raceway in Western Australia from May 16-18.
