Lets hope that many other companies will follow suit. It makes sense from a philantropic point of view: You give some money directly to you employees to encourage them to use cleaner modes of transportation (we wrote about paying employees to walk, cycle or take public transportation here), making for a positive change in society, with the added benefit that it makes a nice perk if you are an employee.
The Business & Technology section of the Seattle Times has an article about a few companies that encourage their employees to trade in their gas-guzzlers for more fuel efficient cars. Topics Entertainment, for example, offers $1000 to any of its employees that is willing to buy a car with a smaller engine than what is traded in, and $2000 if the employee trades in a high-powered V8 for a four cylinders or if he/she buys a hybrid. Another company that does something similar is Hyperion, a Californian software company. They committed a million dollars per year toward the purchases of hybrids, offering employees $5,000 each.Outdoor-apparel firm Timberland in New Hampshire is offering $3,000 toward hybrid purchases to any of its 6,000 employees who have worked at the company two years or more. Four employees have taken advantage of the program, which was introduced at the end of 2004.