Holden test track at Lang Lang loses $15 million in value in six years
The Vietnamese former owner of the iconic ex-Holden proving ground has copped a seven-figure loss in offloading it to a defence contractor after years on the market.
The former Holden proving ground south-east of Melbourne has dropped about half of its market value in six years, with its $20.35 million sale to a defence contractor that is set to limit access to car companies.
The home of most Holdens ever built was sold by General Motors to Vietnamese car maker VinFast in 2020 for $36.3 million, as part of the closure of the lion-badged brand.
After years on the market, as VinFast looked to shut its Australian operations, the Lang Lang proving ground – opened in 1958 – has been purchased by DefendTex, a defence contractor that develops autonomous buggies and drones, as named earlier this month.
Victorian Government documents obtained by Drive have now revealed the sale price: $20.35 million.
MORE: Holden’s former proving ground at Lang Lang sold, but not to GWM
It is close to half of what VinFast paid for the site six years ago before inflation, or less than half after it is considered, as the 2020 sale price is equivalent to $46.5 million today.
The significant drop in market value – excluding any losses incurred in running costs – has followed VinFast’s struggle to sell the facility since it disbanded its Australian engineering operations in 2021, nine months after acquiring Lang Lang.
A number of undisclosed parties have reportedly expressed interest in the 877-hectare property in recent years, but deals to move the site on – including one reported by Drive in 2024 – have fallen through.
MORE: Holden’s Lang Lang test track sold for $36.3 million, documents reveal (published 2021)
VinFast has leased the use of Lang Lang to other firms looking to use its 44km network of sealed and unsealed roads – including a high-speed circuit simulating a rural road, gravel tracks, and an off-road area – for vehicle development and media events.
Among them are JAC, BYD and, most prominently, GWM, which took up permanent residency in 2025 as the home of a program to tune the suspension and steering of its vehicles for Australian roads.
It has been led by former top Holden engineer Rob Trubiani, who oversaw the driving character of the final 20 years of locally-built Commodores.
The car giant revealed to media in October last year it was considering a purchase of the facility, but it appears that it either did not submit a bid, or was not willing to offer more than $20.35 million.
MORE: Holden’s former proving ground at Lang Lang wanted by GWM
“As a result of the sale of the Lang Lang Proving Ground, GWM were advised that they would no longer be able to use the facility post mid May,” GWM Australia and New Zealand (ANZ) chief operating officer John Kett said in a media statement earlier this month.
“While the sale of Lang Lang has delivered a minor ‘speedbump’ in our local development plans, we are already well advanced in making alternative plans for a dedicated facility in Melbourne that will become GWM’s home for dealer training and product testing and development.”
The sale of the iconic test track to DefendTex – its identity revealed by Drive earlier this month – is expected to significantly scale back the presence of automotive companies at Lang Lang.
MORE: GWM secures the first long-term use of the Lang Lang proving grounds since Holden
It leaves car manufacturers looking for a closed test facility for developing new models to focus on the Australian Automotive Research Centre (AARC) near Anglesea, 125km south-west of Melbourne.
It is owned by Lindsay Fox’s trucking giant Linfox – which has been linked to a purchase of Lang Lang in recent years – but is used frequently by Toyota.
Ford retains ownership and use of its proving ground at You Yangs, 70km west of the Melbourne CBD, where it led the development of the Ranger and Everest for global markets, alongside work on other overseas models.
VinFast has kept its signage outside Lang Lang since its purchase in 2020, and its cars have been seen around its grounds by visitors to the facility.
The post Holden test track at Lang Lang loses $15 million in value in six years appeared first on Drive.
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