Evolv Technology partners with Plexus for contract manufacturing

Evolv Technologies Holdings Inc. (NASDAQ: EVLV) announced a strategic contract manufacturing partnership with Plexus Corp. (NASDAQ: PLXS) to scale production and enhance its global supply chain capabilities.

The partnership combines Evolv's product expertise with Plexus' design, supply chain and manufacturing capabilities. Evolv stated the arrangement will provide increased production capacity, support global expansion through Plexus' international network, and create cost-saving opportunities through manufacturing scale and procurement efficiencies.

"We are delighted to announce this new partnership with Plexus whose demonstrated commitment to supply chain excellence, production capacity, and product quality will be critical as we scale and enter our next phase of growth," said John Kedzierski, President and Chief Executive Officer of Evolv Technology.

Plexus operates 26 facilities globally with over 20,000 employees, providing electronics manufacturing services. The company will support production of Evolv's security screening solutions for deployment at schools, healthcare facilities, arenas, office buildings, and other venues.

"We are proud to partner with Evolv Technology. Supporting the production of its advanced security solutions to help protect the communities where people gather every day embodies our vision to help create products that build a better world," said Jim Stokes, Plexus Market Sector Vice President for Aerospace/Defense.

Evolv stated it maintains sufficient inventory and committed production capacity to meet growth targets while integrating Plexus into its operations. The company develops AI-based security technology and reports its systems have scanned more than 3 billion people since 2019.

The information is based on a press release from Evolv Technologies Holdings Inc.

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