SANTA ROSA, Calif. -- U.S., Electricar, a producer of electric vehicles, said it has formed a finance company, Electricar Credit Corp.

The subsidiary will provide four categories of financing: sedans and light pickup trucks to utilities, governments and businesses; buses to transit authorities, schools, and airports; inventory and showroom floor models for U.S. Electricar's industrial-vehicle dealer network; and sales to the dealers' customers.

"Advancements in technology alone will not determine market acceptance of electric vehicles," said U.S. Electricar chief executive officer Ted Morgan said during Edison Electric Institute's fleet managers conference in Troy, Mich. "The industry must constantly look for new, creative ways to make it easier for customers to acquire electric vehicles." The briefs were compiled from staff and wire reports.

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