Vietnam Digest: Spark partners Everest Education; VinGroup, Gotion team up

Vietnam Digest: Spark partners Everest Education; VinGroup, Gotion team up

From left to right: Don Le (CEO of Everest), Mark Luo (CEO of Spark Education), Tony Ngo (Chairman of Everest), and Wilson Li (CSO & CFO of Spark Education) upon the establishment of the joint venture.

Spark Education has announced a joint venture with Vietnamese edtech startup Everest Education while VinGroup and Gotion High-Tech have established a joint venture to set up a battery facility.

Spark Education partners with Vietnam’s Everest Education

Spark Education, a Chinese K12 after-school tutoring firm backed by Sequoia Capital China, has announced a joint venture with Vietnam’s edtech startup Everest Education, a provider of offline and online education services, according to an announcement.

This collaboration merges Everest’s online business with Spark Education’s proprietary technology platform and courseware, localised for the Vietnamese market.

Since 2018, Spark Education’s portfolio of brands has enrolled over half a million students in its programmes. The company is backed by top investors including Sequoia, KKR, IDG Capital, GGV Capital, TrustBridge, Carlyle, and more.

Everest Education, meanwhile, offers Math and English enrichment courses, test prep, college admissions consulting, and private tutoring to students from Grades 1-12. In 2019, it banked $4 million in a Series B round led by Hong Kong-based private equity firm Hendale Capital.

VinGroup partners Gotion High-Tech to set up battery factory

Vietnam’s VinGroup unit VinES and Gotion High-Tech have set up a joint venture battery factory, which officially opened on November 18.

Gotion High-tech holds 51% of the JV while VinES owns the rest.

“The battery factory jointly built by Gotion High-tech and VinGroup will support the battery needs of VinFast’s electric vehicles,” said Li Zhen, chairman, Gotion High-Tech.

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