Welspun One Logistics Parks on 18 October announced that they had signed a built-to-suit lease agreement with an electric vehicle manufacturer of the Murugappa Group in Chennai, Montra Electric.

The facility is expected to become operational by the second quarter of the next fiscal year and is located within the Welspun One logistics and Warehousing park in Chinnambedu, Chennai.

Integrated fund and development management platform Welspun One said that it would construct a built-to-suit facility that will have a dedicated assembly space, which will be tailored for four-wheeler small commercial electrical vehicles.

The mixed-use development spans over 3 lakh square feet and also includes 50,000 square feet of open space.

Anshul Singhal, Managing Director of Welspun One, said, “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.”