<PAGE>
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
SCHEDULE 13D
UNDER THE SECURITIES EXCHANGE ACT OF 1934
(AMENDMENT NO. 1 )*
U.S. Electricar Inc.
- --------------------------------------------------------------------------------
(Name of Issuer)
Common Stock, no par value
- --------------------------------------------------------------------------------
(Title of Class of Securities)
90328P100000
-------------------------------------------------------
(CUSIP Number)
Joseph B. Wollard, Esq.
Citigroup Inc.
425 Park Avenue, 3rd Floor
New York, NY 10043
(212) 793-7167
- --------------------------------------------------------------------------------
(Name, Address and Telephone Number of Person Authorized to Receive Notices and
Communications)
January 18, 2000
-------------------------------------------------------
(Date of Event which Requires Filing of this Statement)
If the filing person has previously filed a statement on Schedule 13G to report
the acquisition that is the subject of this Schedule 13D, and is filing this
schedule because of Sections 240.13d-1(e), 240.13d-1(f) or 240.13d-1(g), check
the following box.
NOTE: Schedules filed in paper format shall include a signed original and five
copies of the schedule, including all exhibits. See Section 240.13d-7 for other
parties to whom copies are to be sent.
*The remainder of this cover page shall be filled out for a reporting person's
initial filing on this form with respect to the subject class of securities, and
for any subsequent amendment containing information which would alter
disclosures provided in a prior cover page.
The information required on the remainder of this cover page shall not be deemed
to be "filed" for the purpose of Section 18 of the Securities Exchange Act of
1934 ("Act") or otherwise subject to the liabilities of that section of the Act
but shall be subject to all other provisions of the Act (however, see the
Notes).
<PAGE>
SCHEDULE 13D
- --------------------------- ---------------------------
CUSIP NO. 90328P100000 PAGE 1 OF 14
PAGES
- --------------------------- ---------------------------
- --------------------------------------------------------------------------------
1 NAMES OF REPORTING PERSONS
I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (ENTITIES ONLY)
Citibank (Luxembourg) S.A.
- --------------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
(a) X
(b) |_|
- --------------------------------------------------------------------------------
3 SEC USE ONLY
- --------------------------------------------------------------------------------
4 SOURCE OF FUNDS*
NOT APPLICABLE
- --------------------------------------------------------------------------------
5 CHECK IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEMS
2(d) or 2(e) |_|
- --------------------------------------------------------------------------------
6 CITIZENSHIP OR PLACE OF ORGANIZATION
Luxembourg
- --------------------------------------------------------------------------------
NUMBER OF 7 SOLE VOTING POWER
SHARES 50,367,454 **
------------------------------------------------------------
BENEFICIALLY 8 SHARED VOTING POWER
OWNED BY 0
------------------------------------------------------------
EACH REPORTING 9 SOLE DISPOSITIVE POWER
PERSON 50,367,454 **
------------------------------------------------------------
WITH 10 SHARED DISPOSITIVE POWER
0
- --------------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
50,367,454
- --------------------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES* |_|
- --------------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
19.9%
- --------------------------------------------------------------------------------
14 TYPE OF REPORTING PERSON*
BK
- --------------------------------------------------------------------------------
*SEE INSTRUCTIONS BEFORE FILLING OUT!
** Represents shares directly beneficially owned by Citibank (Luxembourg) S.A.
<PAGE>
SCHEDULE 13D
- --------------------------- ---------------------------
CUSIP NO. 90328P100000 PAGE 2 OF 14
PAGES
- --------------------------- ---------------------------
- --------------------------------------------------------------------------------
1 NAMES OF REPORTING PERSONS
I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (ENTITIES ONLY)
Citicorp Banking Corporation
13-3012736
- --------------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
(a) X
(b) |_|
- --------------------------------------------------------------------------------
3 SEC USE ONLY
- --------------------------------------------------------------------------------
4 SOURCE OF FUNDS*
NOT APPLICABLE
- --------------------------------------------------------------------------------
5 CHECK IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEMS
2(d) or 2(e) |_|
- --------------------------------------------------------------------------------
6 CITIZENSHIP OR PLACE OF ORGANIZATION
Delaware
- --------------------------------------------------------------------------------
NUMBER OF 7 SOLE VOTING POWER
SHARES 0
------------------------------------------------------------
BENEFICIALLY 8 SHARED VOTING POWER
OWNED BY 50,367,454**
------------------------------------------------------------
EACH REPORTING 9 SOLE DISPOSITIVE POWER
PERSON 0
------------------------------------------------------------
WITH 10 SHARED DISPOSITIVE POWER
50,367,454**
- --------------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
50,367,454**
- --------------------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES* |_|
- --------------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
19.9%
- --------------------------------------------------------------------------------
14 TYPE OF REPORTING PERSON*
HC
- --------------------------------------------------------------------------------
*SEE INSTRUCTIONS BEFORE FILLING OUT!
** Represents shares directly beneficially owned by Citibank (Luxembourg) S.A.
<PAGE>
SCHEDULE 13D
- --------------------------- ---------------------------
CUSIP NO. 90328P100000 PAGE 3 OF 14
PAGES
- --------------------------- ---------------------------
- --------------------------------------------------------------------------------
1 NAMES OF REPORTING PERSONS
I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (ENTITIES ONLY)
Citicorp
06-1515595
- --------------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
(a) X
(b) |_|
- --------------------------------------------------------------------------------
3 SEC USE ONLY
- --------------------------------------------------------------------------------
4 SOURCE OF FUNDS*
NOT APPLICABLE
- --------------------------------------------------------------------------------
5 CHECK IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEMS
2(d) or 2(e) |_|
- --------------------------------------------------------------------------------
6 CITIZENSHIP OR PLACE OF ORGANIZATION
Delaware
- --------------------------------------------------------------------------------
NUMBER OF 7 SOLE VOTING POWER
SHARES 0
------------------------------------------------------------
BENEFICIALLY 8 SHARED VOTING POWER
OWNED BY 50,367,454**
------------------------------------------------------------
EACH REPORTING 9 SOLE DISPOSITIVE POWER
PERSON 0
------------------------------------------------------------
WITH 10 SHARED DISPOSITIVE POWER
50,367,454**
- --------------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
50,367,454**
- --------------------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES* |_|
- --------------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
19.9%
- --------------------------------------------------------------------------------
14 TYPE OF REPORTING PERSON*
HC
- --------------------------------------------------------------------------------
*SEE INSTRUCTIONS BEFORE FILLING OUT!
** Represents shares directly beneficially owned by Citibank (Luxembourg) S.A.
<PAGE>
SCHEDULE 13D
- --------------------------- ---------------------------
CUSIP NO. 90328P100000 PAGE 4 OF 14
PAGES
- --------------------------- ---------------------------
- --------------------------------------------------------------------------------
1 NAMES OF REPORTING PERSONS
I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (ENTITIES ONLY)
Citigroup Holdings Company
06-1551348
- --------------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
(a) X
(b) |_|
- --------------------------------------------------------------------------------
3 SEC USE ONLY
- --------------------------------------------------------------------------------
4 SOURCE OF FUNDS*
NOT APPLICABLE
- --------------------------------------------------------------------------------
5 CHECK IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEMS
2(d) or 2(e) |_|
- --------------------------------------------------------------------------------
6 CITIZENSHIP OR PLACE OF ORGANIZATION
Delaware
- --------------------------------------------------------------------------------
NUMBER OF 7 SOLE VOTING POWER
SHARES 0
------------------------------------------------------------
BENEFICIALLY 8 SHARED VOTING POWER
OWNED BY 50,367,454**
------------------------------------------------------------
EACH REPORTING 9 SOLE DISPOSITIVE POWER
PERSON 0
------------------------------------------------------------
WITH 10 SHARED DISPOSITIVE POWER
50,367,454**
- --------------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
50,367,454**
- --------------------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES* |_|
- --------------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
19.9%
- --------------------------------------------------------------------------------
14 TYPE OF REPORTING PERSON*
HC
- --------------------------------------------------------------------------------
*SEE INSTRUCTIONS BEFORE FILLING OUT!
** Represents shares directly beneficially owned by Citibank (Luxembourg) S.A.
<PAGE>
SCHEDULE 13D
- --------------------------- ---------------------------
CUSIP NO. 90328P100000 PAGE 5 OF 14
PAGES
- --------------------------- ---------------------------
- --------------------------------------------------------------------------------
1 NAMES OF REPORTING PERSONS
I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (ENTITIES ONLY)
Citigroup Inc.
52-1568099
- --------------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
(a) X
(b) |_|
- --------------------------------------------------------------------------------
3 SEC USE ONLY
- --------------------------------------------------------------------------------
4 SOURCE OF FUNDS*
NOT APPLICABLE
- --------------------------------------------------------------------------------
5 CHECK IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEMS
2(d) or 2(e) |_|
- --------------------------------------------------------------------------------
6 CITIZENSHIP OR PLACE OF ORGANIZATION
Delaware
- --------------------------------------------------------------------------------
NUMBER OF 7 SOLE VOTING POWER
SHARES 0
------------------------------------------------------------
BENEFICIALLY 8 SHARED VOTING POWER
OWNED BY 50,391,054**
------------------------------------------------------------
EACH REPORTING 9 SOLE DISPOSITIVE POWER
PERSON 0
------------------------------------------------------------
WITH 10 SHARED DISPOSITIVE POWER
50,391,054**
- --------------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
50,391,054**
- --------------------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES* |_|
- --------------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
19.9%
- --------------------------------------------------------------------------------
14 TYPE OF REPORTING PERSON*
HC
- --------------------------------------------------------------------------------
*SEE INSTRUCTIONS BEFORE FILLING OUT!
** Represents shares directly beneficially owned by Citibank (Luxembourg) S.A.
and other wholly owned subsidiaries of Citigroup Inc.
<PAGE>
SCHEDULE 13D - AMENDMENT NO. 1
Item 2. IDENTITY AND BACKGROUND.
Item 2. of the Schedule 13D filed on December 7, 1999 is amended as
follows:
Pursuant to Rule 13d-1(k)(1) of Regulation 13D-G of the Rules and
Regulations under the Securities Exchange Act of 1934, as amended (the
"Act"), the undersigned hereby file this Schedule 13D Statement on behalf
of (i) Citibank (Luxembourg) S.A. ("Citibank Luxembourg"), a Luxembourg
corporation, (ii) Citicorp Banking Corporation ("Citicorp Banking"), a
Delaware corporation, (iii) Citicorp, a Delaware corporation, (iv)
Citigroup Holdings Company ("Citigroup Holdings"), a Delaware corporation,
and (v) Citigroup Inc. ("Citigroup"), a Delaware corporation
(collectively, the "Reporting Persons" and each, a "Reporting Person").
CITIGROUP HOLDINGS
(a) Name: Citigroup Holdings Company
(b) Address of Principal Place of Business and Office: One
Rodney Square, Wilmington, Delaware 19899.
(c) Principal Business: Holding company for banking
subsidiaries.
(d) Criminal Proceedings: None
(e) Civil Proceedings: None
(f) Citizenship: Delaware
Officer and Directors: See Exhibit A attached hereto, and
incorporated herein by reference with respect to each
executive officer and director of Citigroup Holdings Company.
Item 3. SOURCE AND AMOUNT OF FUNDS OR OTHER CONSIDERATION.
Not Applicable.
Item 4. PURPOSE OF TRANSACTION.
Item 4. of the Schedule 13D filed on December 7, 1999 is amended as
follows:
Citibank Luxembourg has commenced selling shares of the Issuer's common
stock. See Item 5. for more information. At the present time the Reporting
Persons have no plans or proposals which relate to or would result in an
affirmative response to sections (a)-(j) of the Instructions to Item 4.
Page 6 of 14 Pages
<PAGE>
Item 5. INTEREST IN SECURITIES OF THE ISSUER.
Item 5. of the Schedule 13D filed on December 7, 1999 is amended as
follows:
The table below contains information about all transactions by Citibank
Luxembourg since the filing of the Schedule 13D on December 7, 1999.
<TABLE>
<CAPTION>
Title of security Date of sale Number of Price per share Amount owned
shares sold after sale
- ----------------- ------------ ----------- --------------- ------------
<S> <C> <C> <C> <C>
Common stock 12/16/99 5,000 $0.37 53,037,454
Common stock 12/20/99 345,000 0.31 52,692,454
Common stock 12/22/99 200,000 0.41 52,492,454
Common stock 12/23/99 150,000 0.40 52,342,454
Common stock 1/3/00 100,000 0.335 52,242,454
Common stock 1/4/00 200,000 0.3375 52,042,454
Common stock 1/5/00 210,000 0.3794 51,832,454
Common stock 1/6/00 70,000 0.392 51,762,454
Common stock 1/7/00 220,000 0.3962 51,542,454
Common stock 1/10/00 725,000 0.4528 50,817,454
Common stock 1/11/00 110,000 0.4978 50,707,454
Common stock 1/18/00 165,000 0.493 50,542,454
Common stock 1/18/00 175,000 0.5243 50,367,454
</TABLE>
The following information is being provided as of January 18, 2000 with
respect to Citibank Luxembourg's direct beneficial ownership of the
Issuer's common stock.
<TABLE>
<S> <C>
(a) Amount Beneficially Owned: 50,367,454
</TABLE>
Page 7 of 14 Pages
<PAGE>
<TABLE>
<S> <C>
(b) Percent of Class: 19.9%
(c) Number of shares as to which such person has:
(i) sole power to vote or to direct
the vote............................ 50,367,454
(ii) shared power to vote or direct
the vote............................ 0
(iii) sole power to dispose or to direct
the disposition of.................. 50,367,454
(iv) shared power to dispose or to direct
the disposition of.................. 0
</TABLE>
CITICORP BANKING
Citicorp Banking is the parent company of Citibank Luxembourg. To the best
knowledge of Citicorp Banking, none of the executive officers or directors
of Citicorp Banking owns securities of the Issuer. The following
information is being provided as of January 18, 2000 with respect to
Citicorp Banking's indirect beneficial ownership of the Issuer's common
stock.
<TABLE>
<S> <C>
(a) Amount Beneficially Owned: 50,367,454
(b) Percent of Class: 19.9%
(c) Number of shares as to which such person has:
(i) sole power to vote or to direct
the vote................................. 0
(ii) shared power to vote or direct
the vote................................. 50,367,454
(iii) sole power to dispose or to direct
the disposition of....................... 0
(iv) shared power to dispose or to direct
</TABLE>
Page 8 of 14 Pages
<PAGE>
<TABLE>
<S> <C>
the disposition of....................... 50,367,454
</TABLE>
CITICORP
Citicorp is the parent company of Citicorp Banking. To the best knowledge
of Citicorp, none of the executive officers or directors of Citicorp owns
securities of the Issuer. The following information is being provided as
of January 18, 2000 with respect to Citicorp's indirect beneficial
ownership of the Issuer's common stock.
<TABLE>
<S> <C>
(a) Amount Beneficially Owned: 50,367,454
(b) Percent of Class: 19.9%
(c) Number of shares as to which such person has:
(i) sole power to vote or to direct
the vote............................. 0
(ii) shared power to vote or direct
the vote............................. 50,367,454
(iii) sole power to dispose or to direct
the disposition of................... 0
(iv) shared power to dispose or to direct
the disposition of................... 50,367,454
</TABLE>
CITIGROUP HOLDINGS
Citigroup Holdings is the parent company of Citicorp. To the best
knowledge of Citigroup Holdings, none of the executive officers and
directors of Citigroup Holdings named in Exhibit A hereto owns securities
of the Issuer. The following information is being provided as of January
18, 2000 with respect to Citigroup Holdings' indirect beneficial ownership
of the Issuer's common stock.
<TABLE>
<S> <C>
(a) Amount Beneficially Owned: 50,367,454
(b) Percent of Class: 19.9%
(c) Number of shares as to which such person has:
(i) sole power to vote or to direct
the vote............................. 0
</TABLE>
Page 9 of 14 Pages
<PAGE>
<TABLE>
<S> <C>
(ii) shared power to vote or direct
the vote............................. 50,367,454
(iii) sole power to dispose or to direct
the disposition of................... 0
(iv) shared power to dispose or to direct
the disposition of................... 50,367,454
</TABLE>
CITIGROUP
Citigroup is the parent company of Citigroup Holdings. To the best
knowledge of Citigroup, none of the executive officers or directors of
Citigroup owns securities of the Issuer. The following information is
being provided as of January 18, 2000 with respect to Citigroup's indirect
beneficial ownership of the Issuer's common stock.
<TABLE>
<S> <C>
(d) Amount Beneficially Owned: 50,391,054
(e) Percent of Class: 19.9%
(f) Number of shares as to which such person has:
(i) sole power to vote or to direct
the vote............................. 0
(v) shared power to vote or direct
the vote............................. 50,391,054
(vi) sole power to dispose or to direct
the disposition of................... 0
(vii) shared power to dispose or to direct
the disposition of................... 50,391,054
</TABLE>
6. CONTRACTS, ARRANGEMENTS, UNDERSTANDINGS OR RELATIONSHIPS WITH
RESPECT TO SECURITIES OF THE ISSUER.
Page 10 of 14 Pages
<PAGE>
Not Applicable.
Item 7. MATERIAL TO BE FILED AS EXHIBITS.
EXHIBIT DESCRIPTION
A Officers and Directors of Citigroup Holdings
Company.
B Consent to Joint Filing of Schedule 13D
pursuant to Rule 13d-1(k) of the Act.
Page 11 of 14 Pages
<PAGE>
SIGNATURE
After reasonable inquiry and to the best of my knowledge and belief, I
certify that the information set forth in this statement is true, complete
and correct.
Dated: January 21, 2000
CITIBANK (LUXEMBOURG) S.A.
By: /s/ Jean-Claude Lecoq
-------------------------------
Name: Jean-Claude Lecoq
Title: Financial Controller
CITICORP BANKING CORPORATION
By: /s/ William H. Wolf
-------------------------------
Name: William H. Wolf
Title: Senior Vice President
CITICORP
By: /s/ Joan Caridi
--------------------------------
Name: Joan Caridi
Title: Assistant Secretary
CITIGROUP HOLDINGS COMPANY
By: /s/ Kenneth Cohen
-------------------------------
Name: Kenneth Cohen
Title: Assistant Secretary
CITIGROUP INC.
By: /s/ Joan Caridi
-------------------------------
Name: Joan Caridi
Title: Assistant Secretary
Page 12 of 14 Pages
<PAGE>
EXHIBIT A
EXECUTIVE OFFICERS AND DIRECTORS OF CITIGROUP HOLDINGS COMPANY
Set forth below are the names, titles, business addresses, principal
occupations and citizenship of the Executive Officers and Directors of
Citigroup Holdings Company.
<TABLE>
<CAPTION>
NAME, TITLE AND CITIZENSHIP PRINCIPAL OCCUPATION AND BUSINESS ADDRESS
<S> <C>
Paul J. Collins Vice Chairman
Director Citigroup Inc.
United States 153 East 53rd St., 4th fl
New York, NY 10043
Robert I. Lipp Chairman & CEO
Director Global Consumer Business
United States Citigroup Inc.
153 East 53rd St., 4th fl
New York, NY 10043
Victor J. Menezes Co-Chief Executive Officer
Director Global Corporate and Investment Bank
India Citigroup Inc.
399 Park Avenue, 2nd fl
New York, NY 10043
John S. Reed Chairman and Co-Chief Executive Officer
Director and Citigroup Inc.
Executive Officer 153 East 53rd Street, 4th fl
United States New York, NY 10043
William R. Rhodes Vice Chairman
Director Citigroup Inc.
United States 399 Park Avenue, 2nd fl
New York, NY 10043
H. Onno Ruding Vice Chairman
Director Citicorp/Citibank, N.A.
Netherlands 399 Park Avenue, 2nd fl
New York, NY 10043
Sanford I. Weill Chairman and Co-Chief Executive Officer
Director and Citigroup Inc.
Executive Officer 153 East 53rd Street, 4th fl
United States New York, NY 10043
Heidi G. Miller Chief Financial Officer
Executive Officer Citigroup Inc.
United States 153 East 53rd St., 4th fl
New York, NY 10043
</TABLE>
Page 13 of 14 Pages
<PAGE>
EXHIBIT B
Pursuant to Rule 13d-1(k)(1)(iii) of Regulation D of the Rules and
Regulations of the Securities and Exchange Commission under the Securities
Exchange Act of 1934, as amended, the undersigned agree that the attached
Schedule 13D is, and any future amendments thereto may be, filed on behalf
of each of us.
Dated: January 21, 2000
CITIBANK (LUXEMBOURG) S.A.
By: /s/ Jean-Claude Lecoq
---------------------------------
Name: Jean-Claude Lecoq
Title: Financial Controller
CITICORP BANKING CORPORATION
By: /s/ William H. Wolf
---------------------------------
Name: William H. Wolf
Title: Senior Vice President
CITICORP
By: /s/ Joan Caridi
---------------------------------
Name: Joan Caridi
Title: Assistant Secretary
CITIGROUP HOLDINGS COMPANY
By: /s/ Kenneth Cohen
---------------------------------
Name: Kenneth Cohen
Title: Assistant Secretary
CITIGROUP INC.
By: /s/ Joan Caridi
---------------------------------
Name: Joan Caridi
Title: Assistant Secretary
Page 14 of 14 Pages
