AUTOS

Times Staff and Wire Reports

U.S. Electricar Sees Up to $1 Million in Financing: Seeking to avoid insolvency, the Santa Rosa, Calif.-based maker of electric vehicles said that in addition to expecting new financing from Itochu Corp. of Japan, it has been granted an extension on $11 million in debt by its creditors. Separately, U.S. Electricar said its loss for the third quarter ended April 30 widened to $11.9 million from $10.5 million. The per-share loss narrowed to 63 cents from 97 cents, as the company's common shares outstanding rose to 18.9 million from 10.8 million. Revenue fell to $897,000 from $1.3 million.

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