<PAGE>
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
SCHEDULE 13D
UNDER THE SECURITIES EXCHANGE ACT OF 1934
(AMENDMENT NO. 2 )*
U.S. Electricar Inc.
- --------------------------------------------------------------------------------
(Name of Issuer)
Common Stock, no par value
- --------------------------------------------------------------------------------
(Title of Class of Securities)
90328P-10-0
-------------------------------------------------------
(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)
February 14, 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. 90328P-10-0 PAGE 1 OF 13
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 47,307,454**
------------------------------------------------------------
BENEFICIALLY 8 SHARED VOTING POWER
OWNED BY 0
------------------------------------------------------------
EACH REPORTING 9 SOLE DISPOSITIVE POWER
PERSON 47,307,454**
------------------------------------------------------------
WITH 10 SHARED DISPOSITIVE POWER
0
- --------------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
47,307,454**
- --------------------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES* |_|
- --------------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
18.8%**
- --------------------------------------------------------------------------------
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. 90328P-10-0 PAGE 2 OF 13
PAGES
- --------------------------- ---------------------------
- --------------------------------------------------------------------------------
1 NAMES OF REPORTING PERSONS
I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (ENTITIES ONLY)
Citicorp Banking Corporation
- --------------------------------------------------------------------------------
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 47,307,454**
------------------------------------------------------------
EACH REPORTING 9 SOLE DISPOSITIVE POWER
PERSON 0
------------------------------------------------------------
WITH 10 SHARED DISPOSITIVE POWER
47,307,454**
- --------------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
47,307,454**
- --------------------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES* |_|
- --------------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
18.8%**
- --------------------------------------------------------------------------------
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. 90328P-10-0 PAGE 3 OF 13
PAGES
- --------------------------- ---------------------------
- --------------------------------------------------------------------------------
1 NAMES OF REPORTING PERSONS
I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (ENTITIES ONLY)
Citicorp
- --------------------------------------------------------------------------------
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 47,307,454**
------------------------------------------------------------
EACH REPORTING 9 SOLE DISPOSITIVE POWER
PERSON 0
------------------------------------------------------------
WITH 10 SHARED DISPOSITIVE POWER
47,307,454**
- --------------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
47,307,454**
- --------------------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES* |_|
- --------------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
18.8%**
- --------------------------------------------------------------------------------
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. 90328P-10-0 PAGE 4 OF 13
PAGES
- --------------------------- ---------------------------
- --------------------------------------------------------------------------------
1 NAMES OF REPORTING PERSONS
I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (ENTITIES ONLY)
Citigroup Holdings Company
- --------------------------------------------------------------------------------
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 47,307,454**
------------------------------------------------------------
EACH REPORTING 9 SOLE DISPOSITIVE POWER
PERSON 0
------------------------------------------------------------
WITH 10 SHARED DISPOSITIVE POWER
47,307,454**
- --------------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
47,307,454**
- --------------------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES* |_|
- --------------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
18.8%**
- --------------------------------------------------------------------------------
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. 90328P-10-0 PAGE 5 OF 13
PAGES
- --------------------------- ---------------------------
- --------------------------------------------------------------------------------
1 NAMES OF REPORTING PERSONS
I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (ENTITIES ONLY)
Citigroup Inc.
- --------------------------------------------------------------------------------
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 47,331,054**
------------------------------------------------------------
EACH REPORTING 9 SOLE DISPOSITIVE POWER
PERSON 0
------------------------------------------------------------
WITH 10 SHARED DISPOSITIVE POWER
47,331,054**
- --------------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
47,331,054**
- --------------------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES* |_|
- --------------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
18.8%**
- --------------------------------------------------------------------------------
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. 2
Item 3. SOURCE AND AMOUNT OF FUNDS OR OTHER CONSIDERATION.
Not Applicable.
Page 6 of 13 Pages
<PAGE>
Item 5. INTEREST IN SECURITIES OF THE ISSUER.
Item 5. of the Schedule 13D Amendment No. 1 filed on January 21, 2000
is amended as follows:
The table below contains information about all transactions by Citibank
Luxembourg since the filing of the Schedule 13D Amendment No. 1 on
January 21, 2000.
<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 1/19/00 175,000 $0.5214 50,216,054
Common stock 1/20/00 150,000 0.5277 50,066,054
Common stock 1/21/00 100,000 0.56 49,966,054
Common stock 1/24/00 400,000 0.6321 49,566,054
Common stock 1/24/00 300,000 0.7225 49,266,054
Common stock 1/25/00 100,000 0.7433 49,166,054
Common stock 1/31/00 100,000 0.651 49,066,054
Common stock 2/1/00 100,000 0.6525 48,966,054
Common stock 2/7/00 125,000 0.58 48,841,054
Common stock 2/8/00 40,000 0.58 48,801,054
Common stock 2/9/00 35,000 0.58 48,766,054
Common stock 2/10/00 135,000 0.5215 48,631,054
Common stock 2/11/00 300,000 0.5003 48,331,054
Common stock 2/14/00 1,000,000 0.48 47,331,054
</TABLE>
Citibank (Luxembourg) S.A. ("Citibank Luxembourg")
The following information is being provided as of February 14, 2000 with
respect to Citibank Luxembourg's direct beneficial ownership of the
Issuer's common stock.
<TABLE>
<S> <C>
(a) Amount Beneficially Owned: 47,307,454
</TABLE>
Page 7 of 13 Pages
<PAGE>
<TABLE>
<S> <C>
(b) Percent of Class: 18.8%
(c) Number of shares as to which such person has:
(i) sole power to vote or to direct
the vote............................ 47,307,454
(ii) shared power to vote or direct
the vote............................ 0
(iii) sole power to dispose or to direct
the disposition of.................. 47,307,454
(iv) shared power to dispose or to direct
the disposition of.................. 0
</TABLE>
CITICORP BANKING CORPORATION ("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 February 14, 2000 with respect to
Citicorp Banking's indirect beneficial ownership of the Issuer's common
stock.
<TABLE>
<S> <C>
(a) Amount Beneficially Owned: 47,307,454
(b) Percent of Class: 18.8%
(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................................. 47,307,454
(iii) sole power to dispose or to direct
the disposition of....................... 0
(iv) shared power to dispose or to direct
</TABLE>
Page 8 of 13 Pages
<PAGE>
<TABLE>
<S> <C>
the disposition of....................... 47,307,454
</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 February 14, 2000 with respect to Citicorp's indirect beneficial
ownership of the Issuer's common stock.
<TABLE>
<S> <C>
(a) Amount Beneficially Owned: 47,307,454
(b) Percent of Class: 18.8%
(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............................. 47,307,454
(iii) sole power to dispose or to direct
the disposition of................... 0
(iv) shared power to dispose or to direct
the disposition of................... 47,307,454
</TABLE>
CITIGROUP HOLDINGS COMPANY ("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 February
14, 2000 with respect to Citigroup Holdings' indirect beneficial ownership
of the Issuer's common stock.
<TABLE>
<S> <C>
(a) Amount Beneficially Owned: 47,307,454
(b) Percent of Class: 18.8%
(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 13 Pages
<PAGE>
<TABLE>
<S> <C>
(ii) shared power to vote or direct
the vote............................. 47,307,454
(iii) sole power to dispose or to direct
the disposition of................... 0
(iv) shared power to dispose or to direct
the disposition of................... 47,307,454
</TABLE>
CITIGROUP INC. ("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 February 14, 2000 with respect to Citigroup's
indirect beneficial ownership of the Issuer's common stock.
<TABLE>
<S> <C>
(d) Amount Beneficially Owned: 47,331,054
(e) Percent of Class: 18.8%
(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............................. 47,331,054
(vi) sole power to dispose or to direct
the disposition of................... 0
(vii) shared power to dispose or to direct
the disposition of................... 47,331,054
</TABLE>
6. CONTRACTS, ARRANGEMENTS, UNDERSTANDINGS OR RELATIONSHIPS WITH
RESPECT TO SECURITIES OF THE ISSUER.
Page 10 of 13 Pages
<PAGE>
Not Applicable.
Item 7. MATERIAL TO BE FILED AS EXHIBITS.
EXHIBIT DESCRIPTION
A Consent to Joint Filing of Schedule 13D
pursuant to Rule 13d-1(k) of the Act.
Page 11 of 13 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: February 17, 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/ Kenneth Cohen
--------------------------------
Name: Kenneth Cohen
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 13 Pages
<PAGE>
EXHIBIT A
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: February 17, 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/ Kenneth Cohen
---------------------------------
Name: Kenneth Cohen
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 13 of 13 Pages
