VECTRIX CORP. signed on with GE Capital Solutions' Commercial Distribution Finance to provide inventory floor planning for North American Vectrix dealers.
Vectrix executives say the deal positions the company to continue a planned major expansion of its North American distribution network by being better able to assist dealers in meeting their financing requirements.
"This agreement enables Vectrix to offer floor planning for both existing and new dealers facilitating rapid dealer growth," says Vectrix CFO Chris Moe.
Vectrix began its early release of its ZEV in the second half of 2007 with five US dealerships. "Over the course of the last week, and as a result in part of the prospect of availability of GE floor planning, six additional US dealerships have been added," Moe says.
"Existing Dealers have expressed an interest in the product and have begun financing it with us," says Sam Yourd, VP Marketing, GE Capital Solutions. "We look forward to helping Vectrix get more ZEVs on the road and expanding its dealer network."