By Michael Elkins
Lincoln Educational Services Corporation (NASDAQ:LINC) shares gained 4% early Tuesday after the company signed a new agreement with Tesla (NASDAQ:TSLA) to establish a new training facility to provide Tesla START training.
The facility will be established at Lincoln Tech’s Denver, CO campus as part of a 3-year plan. Occupying approximately 6,000 square feet of space at Lincoln Tech’s Denver campus, Tesla will provide vehicles, tools, equipment, charging stations and its own instructors to deliver the program. Upon completion of the program, graduates may be recruited for positions at Tesla service centers across North America.
“This is an exciting, incredible opportunity for our campus and for all of Lincoln Tech’s automotive graduates,” says Kelly Moore, President of the Denver campus. “We’re focused on the future of the automotive industry, and our campus will be one of only six schools in the western U.S. – one of only 10 across the nation – to offer the Tesla START program.”
The training will come at no cost to students as a way to help develop the next generation of Tesla’s service technician workforce. Automotive Technology graduates from any of Lincoln Tech’s campuses will be eligible to apply for the advanced EV training program.
“Entering into this agreement with Tesla solidifies Lincoln Tech’s commitment to providing electric vehicle training for 21st century Automotive Technicians,” says Scott Shaw, Lincoln Tech’s President and CEO. “It is the latest advancement in our EV training programs, and having Tesla’s backing and input in developing these programs will be invaluable for our organization and for our students. It is our intention to become the leading provider of EV Automotive Technology training,” Shaw adds.