Before the 2008 Global Financial Crisis changed the auto industry as we knew it, Holden was already hard at work on the future as they saw it.

Months before the credit crisis swallowed old GM, Holden had designed and built a top secret electric supercar that would have made the Bugatti Veyron blush--and it was well on its way to the production line before the plug was pulled prematurely.

News Corp Australia reports the revelations from a new book due out next month, called Holden: Our Car.

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No one inside General Motors has ever admitted the car exists--although someone goofed and used them in a promo video for GM Design, so they live on, in infamy, on the internet.

The car was sleek, sexy and fast, it featured "gullwing" style doors with looks inspired by the 1969 Holden Hurricane concept.

The powerplant was to be two high-powered electric motors pushing all four wheels. It's said the car was capable of accelerating to 60 mph in 2.3 seconds, easily making it the fastest thing ever produced by GM.

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The car was an all-Aussie affair, Holden completed all the design and engineering work before pitching it to GM North America. It's believed the project reached the negotiating phase, suppliers were sourced and parts were priced. It was to live internationally under the regional badges of Chevrolet, Cadillac, Opel and Holden.

It's unclear if GM will revive plans for the project, but if ever there was a project to make a splash with, to hit back at Silicon Valley's collective cantankerousness towards Detroit, this would be it.