Welspun One leases 3 lakh sq ft of build-to-suit facility to Montra Electric in Chennai

Welspun One said it will construct a build-to-suit (BTS) facility and a dedicated assembly space tailored for four-wheeler small commercial EVs.

Integrated fund and development management platform Welspun One Logistics Parks (WOLP) announced on October 18 that it has signed a build-to-suit lease agreement with Montra Electric (from TIVOLT), an electric vehicle manufacturer of the Murugappa Group in Chennai.

Located within the Welspun One logistics and warehousing park in Chinnambedu, Chennai, the facility is projected to commence operations by the second quarter of 2024.

The mixed-use development spans over 3 lakh sq ft, which includes 50,000 sq ft of open space.

Welspun One said it will construct a build-to-suit (BTS) facility and a dedicated assembly space tailored for four-wheeler small commercial EVs.

"Our asset-light and investment-friendly approach perfectly aligns with Montra Electric's (from TIVOLT) vision, and we are excited to contribute to their growth. This collaboration underscores our mission to transform the logistics landscape, drive innovation, and support the future of mobility," Anshul Singhal, Managing Director of Welspun One said.