Trademark images submitted by HSV were exclusively sourced by CarAdvice to build these renders, which indicate that the HSV Colorado will be a big cosmetic step up from the current version offered by Holden.
While HSV is likely to stick with the Colorado nameplate, it could also potentially use a new name, with Walkinshaw Performance having also registered the 'Walkinshaw Armoured 4x4' name.
The HSV Colorado range is likely to be offered with two variants - an off-road skewed variant with bigger tyres and wheels and an on-road variant that skews towards performance and handling.
Both variants will feature a unique front- and rear-end treatment that will help the HSV-fettled Colorado stand out in traffic.
Dual hood scoops originally designed for the Commodore could also carry over to the Colorado, but are unlikely to be functional, given the engine's current cooling configuration.
At the front, lower air dams will redirect air, while new LED daytime running lights will help the HSV Colorado stand out in traffic.
At the rear, a new insert for the tray will contain 'Colorado' insignia. Furthering its custom styling will be a styled single-piece tray cover that will replace the material-based system on the Z71.
The off-road inspired car will pull from Holden's accessories division with a focus on its big wheels, sports bar and matte-finished side-steps.
Buyers after a leap in performance are likely to be disappointed — for the moment at least. We have been told previously by Holden's engineers that the 2.8-litre Duramax diesel engine used in the Colorado globally works comfortably with 500Nm of torque.
Trying to churn more out of it would require further engineering work and research to ensure the package remains warrantable. Our understanding is that HSV will begin by first improving the ride and handling before doing too much with the engine.
Walkinshaw currently offers a ride and handling package that varies damping and spring rates and lowers ride height by 30mm. HSV may actually take this further by using a more advanced system that offers better road holding and a more car-like driving feel.
Toyota uses a system called KDSS, which was developed in Australia. It uses hydraulics to adjust stabiliser bars and lean resistance.
In off-road conditions, it can also disengage stabiliser bars to achieve greater wheel articulation, giving you the best of both on- and off-road driving.
There are also some examples of Colorados getting around with LS3 engine swaps, but we're unlikely to see anything like that — well, for the moment at least.
What do you think of the HSV Colorado? Does the design fit the bill?
Listen to the CarAdvice team discuss the HSV/Walkinshaw Colorado below, and catch more like this at caradvice.com/podcast.