Gauzy Bolsters Presence in South Korea as Part of a Strategic Collaboration with MABA Industrial, Bringing AI-Powered Smart-Vision® Advanced Driver Assistance System to Critical Asia-Pacific Market
Positions Gauzy to capture widespread adoption of its Smart-Vision® camera monitor system (CMS) in a market that averages 255,000+ commercial vehicle sales per year
Enables Gauzy to benefit from South Korea's heightened emphasis on protecting vulnerable road users (VRUs) as mandated in the country's latest National Transport Safety Plan
NEW YORK and TEL AVIV, Israel, Feb. 20, 2025 (GLOBE NEWSWIRE) -- Gauzy Ltd. (NASDAQ:GAUZ), a global leader in light and vision control technology, today announced a strategic collaboration with MABA Industrial, a South Korea-based renowned design and mobility solutions provider, that makes Gauzy's AI-powered Smart-Vision® advanced driver assistance system (ADAS) available for commercial vehicles in South Korea for the first time. By leveraging MABA Industrial's three decades of mobility expertise and established relationships with major South Korean OEMs like Hyundai Motor Company, a strategic investor in Gauzy, and Kia Corporation, Gauzy has the potential to capture a substantial share of South Korea's commercial vehicle market, which averages more than 255,000-unit sales annually.
The expansion in South Korea occurs at an opportunistic time for Gauzy, with the Republic of Korea having implemented a National Transport Safety Plan that emphasizes the protection of vulnerable road users (VRUs). Gauzy's innovative Smart-Vision® camera monitor system (CMS) supports this government mandate by automatically detecting potential road hazards and mitigating accident risks, positioning the company to capture widespread adoption of this innovative technology amongst South Korea's large contingent of OEMs.
"We are thrilled to have MABA Industrial as one of our partners and bolster our presence in South Korea," stated Eyal Peso, CEO of Gauzy. "Our expansion in APAC affords us a number of strategic benefits, including the opportunity to generate a sizeable and steady new source of revenue for our growing Safety Tech division. We believe demand for the Smart-Vision® system in South Korea will quickly scale up as a result of the government's heightened emphasis on optimizing road safety to save lives and reduce accident risks. The Republic of Korea is home to many of the world's most esteemed OEMs, and we look forward to working with them to retrofit their existing fleets and equip their new models with the Smart-Vision® CMS."
Bringing the Smart-Vision® system to South Korea represents a significant milestone in the company's international growth strategy, solidifying its presence in critically important Asia-Pacific, a region projected to experience GDP growth of 4.1% in 2025, up from 3.9% in 2024. South Korea's growing demand for sustainable transportation solutions, particularly in the electric bus segment, has accelerated interest in AI-powered solutions, with ADAS like Smart-Vision® becoming essential for fleet modernization in urban transit and logistics sectors.
Hyo Jeong Koo, CEO of MABA Industrial, commented: "Smart mirror technology like Smart-Vision® is becoming a key element of future mobility, and we are very pleased to be able to maximize synergy through the introduction of advanced technology in the domestic market and provide customized solutions through cooperation with Gauzy."
Unlike traditional mirrors with inherent blind spots and limited functionality, Gauzy's Smart-Vision® system provides a comprehensive safety solution particularly valuable for South Korea's dense urban environments. The system replaces conventional mirrors with a network of integrated high-definition exterior cameras and interior cab displays, delivering expanded visibility to eliminate blind spots, important for navigating busy city streets and transit hubs. Designed specifically for commercial vehicles, the system automatically alerts drivers to potential risks through advanced AI algorithms, further helping to prevent collisions. Beyond enhanced safety, the system offers significant operational benefits aligned with South Korea's sustainability goals, including improved aerodynamics, lower emissions, and a reduction in replacement costs.
The Smart-Vision® system passes strict homologations and certifications for safety. It was the first to gain UTAC's worldwide approval in 2017. It is United Nation (UN) R46, UN R10, UN R118 and UN R151 certified, as well as IATF and ISO 26262 certified. In the U.S., it can replace conventional mirrors, as Federal Motor Carrier Safety Administration (FMCSA) granted its exemption approval.
About Gauzy
Gauzy Ltd. is a fully-integrated light and vision control company, focused on the research, development, manufacturing, and marketing of smart glass technologies and advanced driver assistance systems (ADAS) to support safe, sustainable, comfortable, and agile user experiences across various industries. Headquartered in Tel Aviv, Israel, the company has additional subsidiaries and entities based in Germany, France, the United States, Canada, China, Singapore, and the United Arab Emirates. Gauzy serves leading brands across aeronautics, automotive, and architecture in over 30 countries through direct fulfillment and a certified and trained distribution channel and partner network.
About MABA Industrial
Founded in 1988, MABA Industrial is a leading design and mobility solutions company based in Korea. Known for its innovative approach to public and commercial transportation, MABA works closely with top-tier automotive manufacturers and local governments to create sustainable and user-focused mobility solutions.
Forward-Looking Statements
This press release contains forward-looking statements. Forward-looking statements contained in this press release include, but are not limited to, statements regarding Gauzy's strategic and business plans, technology, relationships, objectives and expectations for its business, growth, the impact of trends on and interest in its business, intellectual property, products and its future results, operations and financial performance and condition and may be identified by the use of words such as "may," "seek," "will," "consider," "likely," "assume," "estimate," "expect," "anticipate," "intend," "believe," "do not believe," "aim," "predict," "plan," "project," "continue," "potential," "guidance," "objective," "outlook," "trends," "future," "could," "would," "should," "target," "on track" or their negatives or variations, and similar terminology and words of similar import, generally involve future or forward-looking statements. All statements other than statements of historical fact are forward-looking statements. Forward-looking statements reflect Gauzy's current views, plans, or expectations with respect to future events and financial performance. They are inherently subject to significant business, economic, competitive, and other risks, uncertainties, and contingencies. Forward-looking statements are based on Gauzy's current expectations and are subject to inherent uncertainties, risks and assumptions that are difficult to predict including, without limitation, the following: Gauzy invests significant effort and capital seeking validation of its light and vision control products with OEMs and Tier 1 suppliers, mainly in the aeronautics and automobile markets, and there can be no assurance that it will win production models, which could adversely affect its future business, results of operations and financial condition; failure to make competitive technological advances will put Gauzy at a disadvantage and may lead to a negative operational and financial outcome; Gauzy being an early growth-stage company with a history of losses and its anticipation that it expects to continue to incur significant losses for the foreseeable future; its operating results and financial condition have fluctuated in the past and may fluctuate in the future; it is exposed to high repair and replacement costs; it may not be able to accurately estimate the future supply and demand for its light and vision control products, which could result in a variety of inefficiencies in its business and hinder its ability to generate revenue; if it fails to accurately predict its manufacturing requirements, it could incur additional costs or experience delays; the estimates and forecasts of market opportunity and market growth it provides may prove to be inaccurate, and it cannot assure that its business will grow at similar rates, or at all; it may be unable to adequately control the capital expenditures and costs associated with its business and operations; it may need to raise additional capital before it can expect to become profitable from sales of its light and vision control products, which such additional capital may not be available on acceptable terms, or at all, and failure to obtain this necessary capital when needed may force it to delay, limit or terminate its product development efforts or other operations; shortages in supply, price increases or deviations in the quality of the raw materials used to manufacture its products could adversely affect its sales and operating results; its business, financial condition and results of operations could be adversely affected by disruptions in the global economy caused by the ongoing conflict between Russia and Ukraine; it is subject to, and must remain in compliance with, numerous laws and governmental regulations across various countries concerning the manufacturing, use, distribution and sale of its light and vision control products, and some of its customers also require that it complies with other unique requirements relating to these matters; if it is unable to obtain, maintain and protect effective intellectual property rights for its products throughout the world, it may not be able to compete effectively in the markets in which it operates; the market price of its ordinary shares may be volatile or may decline steeply or suddenly regardless of its operating performance, and it may not be able to meet investor or analyst expectations; its indebtedness could adversely affect its ability to raise additional capital to fund operations, limit its ability to react to changes in the economy or its industry and prevent it from meeting its financial obligations; it has limited operating experience as a publicly traded company in the United States; conditions in Israel could materially and adversely affect its business; and any other risks and uncertainties, including, but not limited to, the risks and uncertainties in the Company's reports filed from time to time with the SEC, including, but not limited to, the risks detailed in the Company's prospectus (Registration No. 333-278675), dated June 5, 2024 and filed with the SEC. Further, certain forward-looking statements are based on assumptions as to future events that may not prove to be accurate. The inclusion of forward-looking statements in this or any other communication should not be considered as a representation by Gauzy or any other person that current plans or expectations will be achieved. Forward-looking statements speak only as of the date on which they are made, and Gauzy undertakes no obligation to publicly update or revise any forward-looking statement, whether as a result of new information, future developments, or otherwise, except as otherwise required by law.
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