The two parties have released a joint statement, about their futures.

“Holden is pleased to have reached an amicable contract settlement with Triple Eight Race Engineering, and we along with everyone else are looking forward to seeing race cars on the track again soon,” a statement from GM Holden read.

“Motorsport has made an enormous contribution to the Holden brand and we are very proud of those on track achievements that can never be erased.

“Holden and Triple Eight have achieved a lot together since 2010 and that is something that we sincerely hope continues for the rest of this season.

“Holden is thankful to all the Commodore teams for their commitment and support, but particularly Triple Eight who have been fantastic partners.

“We all want to see the winning continue and what better way than a victory at Bathurst and a Supercars championship to send the Holden brand off in style.”

Triple Eight’s statement said its agreement with co-title partner Red Bull will remain in place.

“The future branding of Triple Eight’s Supercars team is yet to be determined, with the current contract between co-title partner Red Bull and Triple Eight in place until at least the end of the 2021 season,” T8’s statement read.

“Triple Eight first raced Holden’s in 2010, winning on debut in Abu Dhabi and going on to claim a one-two finish in the Bathurst 1000 in the same year.”

“In total, Holden and Triple Eight together have claimed eight teams’ championships, six drivers’ titles and four Bathurst 1000 victories.

“The whole team at Triple Eight extends their heartfelt thanks to Holden, all Holden employees past and present with whom we’ve interacted, and the dealer network for their incredible support and friendship over the past decade.

“The team is totally committed to delivering the best possible results, both on and off the track, for the remainder of the season.”

The existing contract had been due to expire at the end of 2021.