Industry Minister Ian Macfarlane promises to visit Holden's troubled Adelaide car making plant next month but warns he won't be carrying a "pocket full of money".
Holden, which has most of its operations in South Australia, is concerned about the future of federal subsidies under the new federal coalition government and says it could pull out of Australia next year.
The coalition has pledged to cut $500 million annually from car industry funding to 2015.
But South Australian Premier Jay Weatherill wrote to Prime Minister Tony Abbott asking him to commit to a $275 million co-investment package as negotiated with the former Labor government to ensure Holden continued local manufacturing until 2022.
"They're making decisions about a billion dollars worth of investment in two new models which will secure the future of the plant for another 10 years," Mr Weatherill said on Thursday.
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"They need to know that they have a commonwealth partner and indeed a state partner."
Victorian Premier Denis Napthine said Holden hadn't raised the possibility of ceasing Australian manufacturing with his government.
Recent discussions had been "positive, productive and involving partnerships for growth and development of jobs", he added.
Mr Macfarlane insists "we're going to do all we can" for Holden but says there are "massive more issues" than money.
"I'm not able to say what will happen until I actually get down there and have a look," he said.
"If everyone wants to be flexible, I'll be flexible (but) I haven't got a pocket full of money."
Former Labor industry minister Kim Carr believes the coalition "dug itself a hole" when then opposition industry spokeswoman Sophie Mirabella played the "politics of division" by promising to make cuts.
"Labor stands ready to help them climb out of it ... to save the jobs of up to 200,000 Australians by securing the future of the industry," Senator Carr said in a statement.
Australian Chamber of Commerce and Industry (ACCI) chief economist Greg Evans concedes it's a difficult issue but the motor vehicle industry must stand on its own feet.
"The best thing Holden can do to insure its future is to make sure there is demand for its product, be it an export product or for the domestic market," he said.
Business confidence is at its highest level since March 2011 following the election of the new government.
Mr Evans said, if the government wants to translate that confidence into improved business conditions, it must provide a clear pathway back to a budget surplus and stop relying on business to fill revenue holes.
