Canadian automotive supplier Magna International is partnering with work force education provider InStride to launch a pilot program that will provide qualified employees access to undergraduate degree programs free of debt.
The initiative, Educational Pathways for Innovative Careers (EPIC), will be available for U.S.-based employees beginning this month.
The program will provide coursework that lets employees address the skills they'll need to keep up with continued advances in the auto industry. The goal is for employees to expand their knowledge and skills so that more advanced vehicles can be designed and built.
"The mobility industry is transforming rapidly and in need of ever-changing skill sets to meet new demands. As vehicles change, the way we design and build them will be drastically different, requiring employees to expand their knowledge in order to maintain our company's competitive advantage," Magna Chief Human Resources Officer Aaron McCarthy said in a news release.
Vivek Sharma, CEO of InStride, said the executive team at Magna has been thoughtful in their strategic design of the pilot program. Magna plans to use InStride's education providers to meet the career objectives of its employees.
Magna of Aurora, Ontario, was No. 4 on the Automotive News list of the world's top 100 suppliers, with global parts sales to automakers of US$32.6 billion in its 2020 fiscal year.