Welspun One Logistics Parks (WOLP), an integrated investment and development management organisation, disclosed that it has inked a build-to-suit lease deal with Montra Electric (formerly TIVOLT), a Chennai-based producer of electric vehicles owned by the Murugappa Group.

The facility, which is situated inside the Welspun One logistics and storage park in Chinnambedu, Chennai, is anticipated to open for business in the second quarter of 2024.

The mixed-use building has a total square footage of over 3 lakh feet, including 50,000 square feet of open space.

"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.