Company: GAUZ
Filing Date: 2025-03-11
Form Type: 20-F
Source: 0001213900-25-022437
Chunk: 16

Company: Gauzy Ltd.
Filing Date: 2025-03-11
Form: 20-F
Item: Item 4
Chunk 16
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, in 2022, Mercedes adopted CMS technologies
in their Actros model vehicle, which further supports our belief that CMS technologies will be rapidly adopted in the majority of new
trucks and buses as well as retrofits in the coming years.

In addition to the OEM market
for CMS and ADAS technologies, we see significant opportunity in retrofitting existing truck and bus fleets to address an increased focus
on safety from operators and regulators. For example, in September 2022, we were sub-contracted to provide one of our customers with
our ADAS technology pursuant to their contract with the city of Lyon, France, which is aiming to retrofit the city’s bus fleet
of approximately 900 buses with ADAS technologies to promote public safety. Similarly, in July 2023, we were chosen by a city in Australia
to retrofit its full fleet of approximately 1,000 public buses with our ADAS technologies. These are strong indications of broader market
adoption of CMS and ADAS solutions and opportunities to retrofit the installed base of existing truck and bus fleets.

Key End-Markets

We work closely with customers
and industry partners to develop and commercialize integrated light and vision control technologies, and establishing strategic partnerships
and customer relationships is key to our business model. We believe these partnerships will help accelerate our research and development
efforts to bring cutting-edge technology to the forefront of our markets.

Automotive

As advances in automotive
technology offerings continue as part of the adoption of electric vehicles, the integration of light and vision control technologies
is a natural next step in the evolution of the automobile. As an example, the implementation of ADAS technologies in cars is expected
to be quickly adopted. In 2020, ADAS technologies were only installed in approximately 10% of the estimated 1.05 billion cars in
use around the world, but this is predicted to increase to 30% in 2025 and 50% in 2030. We will continue to benefit from the increasing
adoption of light control technologies in applications such as glass rooftops, side windows and windshields. Our technologies are enabling
the replacement of traditional mechanical products, such as shades, blinds and mirrors, with advanced and sustainable solutions offering
superior functionality. The continuing trend toward incorporating panoramic glass panels and sunroofs in passenger cars is expected to
drive smart glass demand in the automotive industry as these sought-after features become increasingly technologically feasible. Since
the batteries for electric vehicles are typically placed under