Fast Company

Driving Employees to Hybrids

Sure, sales of hybrid cars are going strong, but in case buyers need added incentive, a Boston Globe article published today highlights new perks being offered by some companies to their employees for owning a hybrid car.

Bank of America is giving $3,000 to employees in Boston, Los Angeles, and Charlotte, NC who buy a hybrid. Google pays $5,000, or $2,500 toward a lease. Timberland offers $2,000 ­ and a reserved parking spot near the front of its headquarters in Stratham, NH. Insurance company St. Paul Travelers discounts employee car insurance by 10% in every New England state except Massachusetts. The city of New Haven, meanwhile, lets hybrid car owners park for free at meters.

Combined with federal tax credits, these incentives are meant to combat the price gap between traditional gasoline powered automobiles and hybrids, which run on both electric and gasoline.

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  • Skot Nelson

    Are they offering the same perk to employees to take transit? Walk to work? Cycle?

    For $3,000 I could buy a pretty slick Cannondale touring bike AND another pretty slick Cannondale touring bike. I'd be better for the environment, my personal health would improve (likely making me a more productive employee) amongst other benefits.

    I think I just realized why North America is so backwards. Maybe I should really sell my car and just do bicycle/motorcycle.