LINCOLN TECH ANNOUNCES PARTNERSHIP WITH HYUNDAI MOTOR AMERICA & GENESIS MOTOR AMERICA; TRAINING OFFERED AT NO ADDITIONAL COST TO STUDENTS

Rhea-AI Summary

Lincoln Educational Services (NASDAQ: LINC) has partnered with Hyundai Motor America (HMA) & Genesis Motor America (GMA) to launch two new employer-specific training programs. These programs, the Hyundai Performance Institute Technician Student Program and the Genesis Technician Student Academy, will supplement Lincoln Tech's Automotive Service Technology programs at no additional cost to students.

The web-based training allows future technicians to begin their certification process before being hired at a dealership. With over 675,000 Automotive Technician positions projected to become available by 2032, these programs aim to help employers maintain a steady pipeline of trained applicants. Hyundai has donated vehicles and scan tools to support the program at several Lincoln Tech campuses.

This partnership is expected to accelerate the hiring process for Lincoln Tech graduates and provide Hyundai with technicians experienced in their specific technologies. The Automotive Service Technology program is available at multiple Lincoln Tech campuses across the United States.

Positive

• Partnership with Hyundai Motor America & Genesis Motor America to offer employer-specific training programs
• No additional cost for students to pursue supplemental training
• Accelerated hiring process for Lincoln Tech graduates
• Donation of vehicles and scan tools by Hyundai to support the program
• Potential for students to gain manufacturer-specific career skills and employer discounts on tool kits

Negative

• None.

Insights

Education and Workforce Development Specialist

This partnership between Lincoln Tech and Hyundai/Genesis represents a significant development in automotive technician training. By offering manufacturer-specific training at no additional cost, Lincoln Tech is enhancing its value proposition to students while addressing a critical workforce need. The projected 675,000 automotive technician job openings by 2032 underscores the importance of such initiatives.

Key benefits include:

• Students gain specialized skills without extra costs
• Accelerated path to certified technician status
• Employer-funded training aligns education with industry needs
• Donation of vehicles and tools enhances practical learning

This model of industry-education collaboration could set a precedent for other sectors facing skills gaps. For investors, it signals Lincoln Tech's proactive approach to maintaining relevance and competitiveness in the vocational education market.

Automotive Industry Analyst

This partnership is strategically significant for both Lincoln Tech and Hyundai/Genesis. For Hyundai and Genesis, it addresses the critical challenge of maintaining a skilled workforce as automotive technology rapidly evolves, particularly with the shift towards electric and hybrid vehicles. The program allows them to shape technician training to their specific needs, potentially reducing onboarding time and costs at dealerships.

For Lincoln Tech, this alliance enhances its market position in automotive education. By offering manufacturer-specific training, they differentiate their program from competitors and potentially improve graduate employment rates. The donation of vehicles and tools also represents a tangible investment in Lincoln Tech's facilities, improving the quality of hands-on training without capital expenditure.

This type of partnership could become increasingly common as automakers seek to secure their future workforce in a competitive labor market.

New career training option will help meet growing nationwide demand for Hyundai and Genesis automotive technicians.

PARSIPPANY, NJ – October 21, 2024, Oct. 21, 2024 (GLOBE NEWSWIRE) -- Lincoln Educational Services Corporation (NASDAQ: LINC), a national leader in specialized technical training for more than 75 years, has partnered with Hyundai Motor America (HMA) & Genesis Motor America (GMA) to launch two new employer-specific training programs. These programs will supplement Lincoln Tech’s Automotive Service Technology programs across the country and help students build skills on Hyundai/Genesis equipment and systems, while helping the employer build its technician workforce.

Interested students will have the chance to select between the Hyundai Performance Institute Technician Student Program or the Genesis Technician Student Academy.* Both are employer-funded, meaning Lincoln Tech students will have no additional expense to pursue this supplemental training. The web-based training helps future technicians begin their technician certification process before getting hired at a dealership, where a student will gain additional experience through hands-on practice at a Hyundai or Genesis retailer.

These self-paced online programs are the same resources used by already-employed Hyundai and Genesis technicians. With more than 675,000 Automotive Technician positions projected to become available around the country by 2032**, including many at Hyundai and Genesis dealerships, programs like these have become popular, innovative ways to help employers maintain steady pipelines of trained applicants.

Lincoln Tech students enrolled in Automotive Service Technology training can add the Hyundai or Genesis option to their program at no additional cost and build manufacturer-specific career skills while also enjoying employer discounts on Sonic Tool kits.

“We’re pleased to add Hyundai & Genesis to our family of hiring partners,” says Scott Shaw, Lincoln Tech’s President and CEO. “Hundreds of Lincoln Tech graduates have gone on to work for Hyundai or Genesis dealerships up until now, and this program now both accelerates their potential hiring process while also providing Hyundai with new technicians who already have experience working on their specific technologies. These technicians will need less time to ‘ramp up’ to Certified Technician status, and will play key roles helping Hyundai and Genesis continue to grow.”

“Empowering the next generation of technicians, our partnership with Lincoln Technical Institute is more than just education,” says Randy Parker, President and CEO of Hyundai Motor North America. “It's a commitment to excellence and a brighter future. Together, we're not just offering training, we're igniting passion and driving the industry forward. Here's to the journey of discovery, the hands that will shape tomorrow, and the partnership that makes it all possible.”

To help support the program, Hyundai has donated vehicles for training purposes at both Lincoln Tech’s Philadelphia, PA and East Point, GA campuses and a donation of Hyundai scan tools was received by Lincoln Tech’s Queens, NY, Philadelphia, PA and East Point, GA campuses. Lincoln Tech’s Automotive Service Technology program is also available at campuses in Columbia, MD; Denver, CO; East Windsor, CT; Grand Prairie, TX; Indianapolis, IN; Mahwah, NJ; Melrose Park, IL; Nashville, TN; and Union, NJ.

* Must meet dealer terms and conditions.

** Career growth projections can be found at onetonline.org for the years 2020-2030 and are current as of August 28, 2024.

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About Lincoln Educational Services Corporation

Lincoln Educational Services Corporation is a leading provider of diversified career-oriented post-secondary education. Lincoln offers recent high school graduates and working adults career-oriented programs in five principal areas of study: automotive technology, health sciences, skilled trades, information technology, and hospitality services. Lincoln has provided the workforce with skilled technicians since its inception in 1946. 

Lincoln currently operates 22 campuses in 13 states under four brands: Lincoln Technical Institute, Lincoln College of Technology and Euphoria Institute of Beauty Arts and Sciences.  Lincoln also operates Lincoln Culinary Institutes in both Maryland and Connecticut.

For more information, go to lincolntech.edu.

Contact Information
Lincoln Educational Services Corporation
Scott Watkins
swatkins@lincolntech.edu

FAQ

What new training programs has Lincoln Tech (LINC) announced in partnership with Hyundai and Genesis?

Lincoln Tech has announced two new employer-specific training programs: the Hyundai Performance Institute Technician Student Program and the Genesis Technician Student Academy. These programs will supplement Lincoln Tech's existing Automotive Service Technology programs.

How much does the Hyundai and Genesis training program cost for Lincoln Tech (LINC) students?

The Hyundai and Genesis training programs are offered at no additional cost to Lincoln Tech students enrolled in the Automotive Service Technology program. These are employer-funded programs.

How many Automotive Technician positions are projected to be available by 2032?

According to the press release, over 675,000 Automotive Technician positions are projected to become available around the country by 2032.

What has Hyundai donated to support the training program at Lincoln Tech (LINC)?

Hyundai has donated vehicles for training purposes at Lincoln Tech's Philadelphia, PA and East Point, GA campuses. Additionally, Hyundai scan tools were donated to the Queens, NY, Philadelphia, PA, and East Point, GA campuses.