Evolv Technologies, Plexus Partner to Scale Manufacturing, Meet Global Demand

EVLV +2.24% PLXS -0.63%

Evolv Technologies Holdings Inc. (NASDAQ:EVLV) is one of the best upside stocks to buy now. On November 6, Evolv Technologies Holdings announced that it had entered into a strategic contract manufacturing partnership with Plexus Corp. (NASDAQ:PLXS). The new collaboration is designed to scale Evolv’s manufacturing and global supply chain capabilities to meet the growing demand for its advanced security screening products.

The partnership combines Evolv’s product expertise with Plexus’ design, supply chain, and manufacturing capabilities to enable large-scale production and distribution. The collaboration with Plexus is expected to position Evolv for its next phase of growth. Key benefits include increased capacity and expertise, a scalable platform to support global expansion through Plexus’ international production network, and long-term cost-saving opportunities through Plexus’ global manufacturing scale and procurement efficiencies.

The partnership will also facilitate new market opportunities via Plexus’ sustaining services solution and strengthen resiliency with geographic coverage, redundancy, and 24/7 global support. Evolv currently maintains ample inventory and committed production capacity to support uninterrupted service and consistent delivery to customers as Plexus is integrated.

Evolv Technologies Holdings Inc. (NASDAQ:EVLV) provides AI-based weapons detection for security screening in the US and internationally.

Plexus Corp. (NASDAQ:PLXS) provides electronic manufacturing services in the US, the Asia-Pacific, Europe, the Middle East, and Africa.

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Disclosure: None. This article is originally published at Insider Monkey.