It will go on sale in the middle of this year with the highest hauling rating despite using a smaller engine than the Ford Ranger, Mazda BT-50, Nissan Navara V6 and Toyota Hilux.
Holden is yet to reveal the maximum payload, that is, the amount in can carry on the tray or in the ute back.
The top-spec Colorado will run a 2.8-litre four-cylinder turbo diesel generating 132kW and 470Nm. It works with a six-speed automatic transmission, which can handle the higher torque figure.
Customers can also select a lower output version of the same engine, which makes the same amount of power, but has 30Nm less torque. This unit is available with a five-speed manual gearbox.
The entry-level diesel option will be the smaller 2.5-litre four-cylinder turbo diesel with 110kW and 350Nm of torque, which will be hooked up to a five-speed manual. This smaller powerplant doesn't quite match that of the larger engine, but is still a fairly handy 3000kg.
Holden has decided against offering up a petrol variant, as is the case with the just-introduced Ford Ranger.
More details on the Colorado, including pricing, will be released closer to the launch, which has been delayed due to floods near the Colorado factory in Thailand.
The company has disclosed the new model will be available in three body styles, a single cab, a space cab and family-friendly crew cab with the choice of 4x2 or 4x4.
Key safety features will be standard on the new model, which shares the same base as the Isuzu D-Max but wears a different skin and runs unique engines, including electronic stability control (ESC). Holden says it will also install front and side curtain airbags to all Colorado models as standard equipment.
In a bid to have interested customers hang-on until the new ute arrives, Holden is sending out display Colorados to dealers in April.