Hyperion Offers Workers Incentive for Purchasing a Hybrid

November 30, 2004 by Jeff Shepard

Software firm Hyperion Solutions Corp. (Santa Clara, CA) announced that it will give $5,000 to every one of its 1,500 US workers who buys a gas-electric hybrid vehicle rated 45 mpg or more in highway driving. The firm has budgeted $1 million a year for at least the next several years for the program. It's also open to Hyperion's 1,000 workers in other countries.

Toyota's Prius gas-electric hybrid and Honda's Insight two-seater and Civic Hybrid sedan - each roughly $21,000 - are the only models eligible for the $5,000 incentive. Honda's Accord hybrid and Ford's Escape hybrid don't hit the fuel-economy threshold.

In addition, the government offers a $2,000 federal tax deduction this year to buyers of hybrids, which would cut income taxes $560 for someone in the 28% tax bracket.