Company: GAUZ
Filing Date: 2025-03-11
Form Type: 20-F
Source: 0001213900-25-022437
Chunk: 29

Company: Gauzy Ltd.
Filing Date: 2025-03-11
Form: 20-F
Item: Item 4
Chunk 29
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3.

Competition

Light Control

Light control technologies
are transforming many industries, including the architectural and mobility markets. Our business is characterized by rapid changes as
well as new and disruptive technologies. The market for light control solutions is a relatively new market with increasing competition
for similar solutions. However, we believe that our solutions have technical superiority such as best-in-class optical performance, widest
optical range, color control, segmentation, variety and more. We believe that our business model has an advantage over competitors who
are manufacturing smart glass themselves and competing with glass fabricators, while also dealing with supply chain issues and local
market customization challenges. The shipping and replacement costs for damaged products alone can deeply undercut their profitability.
Our strategy enables our glass fabricator customers to manufacture smart glass themselves by efficiently providing them with the films,
electronics and manufacturing expertise on a global and accelerated basis relative to some of our peers. We are also differentiated from
our peers in that we serve multiple end-markets and regions, whereas many of them have a much narrower focus.

Our light control technologies
and products compete principally with products from electrochromic glass manufacturers such as View Inc. and Sage (owned by Saint-Gobain
Glass) as well as a select group of chemicals suppliers who range from large traditional companies such as Merck and Gentex to a few
small suppliers primarily located in Asia. Several new entrants to the market, including a few low-cost manufacturers from Asia, have
also announced plans to develop or have already shipped products. We believe that our light control products and unique business model
offers significant technology and cost advantages that reflect a competitive differentiation over other technologies and competitors.
In the SPD segment in particular, we believe we are the only licensed vendor in the world following our recent acquisition of all of
Resonac’s (formerly Hitachi Chemical) full SPD intellectual property portfolio, which included obtaining and learning the know-how
with respect to Resonac’s technical and business information related to such acquired patents.

Vision Control

Advanced vision control technologies,
such as ADAS and CMS, are revolutionizing the commercial vehicle market. For our vision control solutions, we believe that our main competitors
today are Orlaco (owned by Stonebridge Inc.) and Mekra (a joint venture with Bosch GmbH). We have a limited number of competitors of
scale given the high technological barriers to entry. In the near future, innovation and advancement in vision control technologies is
expected to dramatically increase. Our current product offerings and research and development