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Welspun One Logistics Parks develops a build-to-suit facility for Montra Electric in Chennai
Industry News- Oct 20,23
Welspun One will construct a cutting-edge build-to-suit (BTS) facility, encompassing Montra Electric's (from TIVOLT) innovative retail experience centre and a dedicated assembly space tailored for four-wheeler small commercial EVs.
Welspun One Logistics Parks (WOLP), a prominent integrated fund and development management platform, has announced a build-to-suit lease agreement with Montra Electric (from TIVOLT), the 4 Wheeler electric vehicle manufacturer of the Murugappa Group.
Under the ground-breaking partnership, Welspun One will construct a cutting-edge build-to-suit (BTS) facility, encompassing Montra Electric's (from TIVOLT) innovative retail experience centre and a dedicated assembly space tailored for four-wheeler small commercial EVs. 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 unique mixed-use development spans over an impressive 3 lakh sq. ft., which includes 50,000 sq. ft. of open space. The facility is customized to meet Montra Electric’s (from TIVOLT) precise requirements, ensuring exceptional accessibility, a Vastu-compliant layout, and specialized finished goods storage solutions, among other features.
Anshul Singhal, Managing Director, Welspun One said, "Today's announcement marks a significant milestone in our commitment to innovation and sustainable development. We are thrilled to partner with Montra Electric (from TIVOLT), a leading player in the electric vehicle industry, to create a one-of-a-kind build-to-suit facility in Chennai. This project exemplifies our dedication to providing tailored solutions that meet the unique needs of our clients. 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."
A senior member from Montra Electric (from TIVOLT), added, "Welspun One has an exceptional ability to seamlessly align and understand our objectives. They have adeptly addressed Montra Electric's (from TIVOLT) unique power supply needs, a crucial prerequisite for EV manufacturing. The facility also boasts ample parking spaces, ensuring a seamless and efficient operational environment. We firmly believe that we are on the cusp of reshaping the electric vehicle sector and establishing pioneering benchmarks within the industry.”
Situated along the eastern coast of India, this cluster boasts superb connectivity through rail and road networks while being in close proximity to major seaports in Chennai and Ennore. This makes it an ideal epicentre for efficient distribution and connectivity, serving the needs of Chennai and beyond.
The project is part of an Rs 2,500 crore investment Memorandum of Understanding (MoU) signed by Welspun One with the Government of Tamil Nadu, further underlining our commitment to fostering regional economic growth.
Welspun One Logistics Parks
Montra Electric
Murugappa Group
TIVOLT
Chinnambedu
Chennai
Anshul Singhal
Ennore
Government of Tamil Nadu
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