The South Australian Government has failed to reach a deal with Holden about a future investment plan during talks with the carmaker in Melbourne.

Premier Jay Weatherill met Holden managing director Mike Devereux today and was hoping to receive a written guarantee about the company's future beyond 2016.

The Premier says he wants Holden to agree to a $50 million deal with the State Government before the September 7 election to force commitments from the Federal parties.

The deal was put on hold after Holden announced 400 jobs cuts in South Australia earlier this year.

Holden says it will not discuss details of today's confidential meeting and will wait until the outcome of the election to decide on whether it will continue its operations at Elizabeth in Adelaide's north.

Mr Weatherill says he accepts the carmaker is holding off on a final decision, but denies his trip was a pointless exercise.

"We think we can get an in-principle agreement. Of course the final agreement has to abide the agreement with the Commonwealth," he said.

"But we can actually use this period in the Federal election campaign to conclude our piece of the negotiations.

"We have put $50 million on the table but we need a series of safeguards and assurances about workers, about the businesses in the related components sector, about what Holden is going to look like in the future after ten years so there's long-term security."

Mr Weatherill described the meeting as positive.

"I put a very substantial document on the table and I was very pleased at the nature of the response," he said.

"There's still some work to be done. This is the first time they've had a detailed conversation with us about [the] document we put to them."