Indian food delivery startup Swiggy is in talks to raise over $500 million in a new financing round that could value it at over $10 billion, two sources familiar with the matter told TechCrunch. Atlanta-headquartered Invesco is in talks to lead -- or co-lead -- the new financing round in the Bangalore-based startup, which counts SoftBank Vision Fund 2, Falcon Edge Capital, and Prosus Ventures among its existing investors, sources added. Swiggy had no comment on Monday.
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Earlier this year, Ford Motor Company announced an investment of $30 billion toward electrification by 2025. On Monday, the automaker unveiled some specifics for that plan. Ford and its battery joint venture partner, SK Innovation, will be investing $11.4 billion in the two new campuses it plans to build in Kentucky and Tennessee to produce the next generation of electric F-Series trucks and the batteries to power both Ford and Lincoln vehicles. Alongside this investment, Ford has also outlined existing plants that it has repurposed to accommodate manufacturing for electric vehicles.