The guys who designed the VE were hired by Holden from BMW and were the same guys who designed the late 90's 5 series. Trying to find a reference for this, but I remember it being discussed back when the G8 was released.
Maybe or maybe not, here is why.
In August 2000 edition of Modern Motor in conjunction with Car UK, featuring:
Tested on the Nordschleife (20.8km long circuit) of Nurburgring.
Datron-measured acceleration figures:
GTS = 5.31
BMW = 5.55
AMG = 5.56
GTS = 11.70
BMW = 12.15
AMG = 12.22
GTS = 13.54 @ 176.2kph
BMW = 13.80 @ 171.9
AMG = 13.69 @ 169.9
Estimated fastest lap times by Anders Olafsson
who first raced here in the 1960s and since then has put more than 10,000 laps under his belt on this circuit are:
= "Between 8 minutes 10 and 8 minutes 15 seconds"
= "10 to 15 seconds slower" (BMW factory time 8.28)
= "about 8.50 to 8.55"
Deride it as a product of rampant cubism if you will, but even in the company of a pair of twin-cam 32 valve mills, the GTS's specific power output is right up there. The M5 claims the title with 60kw/litre, but the HSV's 52.6 comfortably betters the E55's 48.1. In spite of their limiters both the Benz and the Bimmer run close to 260kph .. but the GTS is .. even faster, blowing the Germans away for outright speed. HSV has never admitted it before, but we're here to tell you the GTS has a speed limiter. It's officially set at 160 miles per hour, but there's an 'engineering tolerance' and it's a bit liberal. This is history's first genuine 265kph production Commodore - and it gets there easily.
The GTS has all the mid-corner speed of the Germans, but doesn't need as much road under brakes. The Harrop-developed HSV Premium Brake package easily outshines the best of Germany. And it fires out of corners even harder. What's more, it's more responsive and easier to drive quickly. Remarkably, given that much of the BMW's development was carried out on this very track, the GTS's steering is better suited to this track than either the M5's steering settings, offering feedback and accuracy. But it's the feedback from the back-end of the car that shines. The information it pumps back about how much lateral grip remains and how much more drive can be fed through the rear tyres is its key. It's the only one of the three that can be throttle-steered by even the most ham-fisted of operators. Every ounce of its performance envelope is accessible and it delivers its 300kw in completely unpretentious fashion.
To conclude, Olafsson is quoted summing up the three cars, starting with the AMG:
"It's quick in a straight line and there's loads of torque to pull you out of the corners, but the automatic gearbox just doesn't react fast enough and it understeers much earlier than the others. It'd be great on an autobahn, but not here. When it rained, it wasn't very easy to drive, really."
Of the BMW:
"There's terrific chassis balance and the engine is tremendously strong. The problem is the steering doesn't really do what you want. You don't get enough good feeling or warning from the car. In some ways it's too good. But you don't get the right message from the car in the corner. The power it makes is wonderful, but the rest of the car needs traction control to keep up. They are working against each other."
Finally, the HSV:
"That's a real car, that GTS, and that's a surprise to me. Honestly, I was a little bit disappointed by the Germans. There are many good things and many good parts to each of them but, driving-wise, the Holden's the better car for a pure driver. I mean, if you push the Commodore, you really get good feel to it. When you drive it, all the technology doesn't take over."