A bank is letting 35,000 staff lease Teslas and hundreds of other electric cars as its latest perk

A bank is letting 35,000 staff lease Teslas and hundreds of other electric cars as its latest perk

HSBC's new corporate perk allows 35,000 UK staff lease Teslas, and nearly 200 other models of electric vehicles. The news was first reported by and confirmed to Insider by the bank. Workers will be able to lease EVs from the bank for up to 48 months and receive tax benefits. They will then have the option to buy the car in full at the end of the contract, per the report. Banks are keen to improve their offers to employees amid a talent war with tech and other industries, which has forced them to boost pay, improve corporate culture, and heed calls to provide more flexible working. Offering EVs, or , is becoming an increasingly popular way of attracting talent as concerns over the climate crisis, and therefore a desire for more sustainable forms of transport, increase. Bank of America unveiled a similar scheme earlier this year, per Bloomberg. HSBC UK's green car program will help employees become more sustainable in their day-to-day lives, said its CEO, Ian Stuart. Under , employees have to pay tax on employee benefits like company cars. But they pay less for electric or hybrid vehicles, which are subject to "benefit-in-kind" tax breaks. The tax