Gentex Corporation

Company Profile

■URL

https://www.gentex.com/

■Address

600 North Centennial Street, Zeeland, MI 49464 USA

Business Overview

-The Company manufactures digital vision, connected car, dimmable glass and fire protection technologies across multiple industries. For the automotive market, the Company focuses on automatic-dimming and non-automatic dimming rearview mirrors, mirror-integrated displays and electronics. Automotive rearview mirrors and electronics accounted for approximately 98% of the Company’s consolidated net sales in the fiscal year ended December 31, 2023.

-In 2023, the Company was the leading producer of automatic-dimming rearview mirrors in the world, holding approximately an 89% market share for the automotive market.

-The Company estimates that it has an annual production capacity of 34 to 37 million interior mirror units and 19 to 22 million exterior mirror units. In 2023, the Company shipped 31.9 million interior automatic-dimming mirrors and 18.8 million exterior automatic-dimming mirrors.

-In September 2021, the Company completed the acquisition of Guardian Optical Technologies, a specialist in multi-modal sensor technology used in a suite of driver-monitoring and cabin-monitoring solutions for the automotive industry. The sensing technology is focused on an infrared-sensitive, high-resolution camera utilizing machine vision, depth perception, and micro-vibration detection to monitor the vehicle cabin.

-The Company is organized into two primary operating segments based on market application. Its largest operating segment is the Automotive Products segment, which includes automotive mirrors and electronics. The Other segment consists of products including dimmable aircraft windows, fire protection technologies, nanofiber products, and medical products.
 

Competitors

-Aizhuo
-Alps Alpine Co., Ltd.
-Ambilight
-Aolian
-BYD Auto Company
-Chogqing Yimei
-Guangdong Yuanfeng
-Intertech
-Kingband
-Licon
-Magna
-MirrorTech
-Murakami
-Samvardhana Motherson Reflectec
-Sincode
-Tokai Rika
-Ultronix
-Xiamen Intertech
-Yanfeng Visteon

Shareholders

-The Company is listed on the NASDAQ Stock Market.

Products

Digital Vision
-Full Display Mirror (FDM)
-Hybrid rear-vision display system with integrated camera monitoring systems (CMS)
-Fully digital rear vision camera monitoring systems
-Mirror-integrated displays and alerts
-Custom cameras for machine vision and video (SmartBeam®)
-Custom cameras for automotive video
-Touchscreen Full Display Mirror (FDM)
-Multi-view trailer camera
-Mirror-integrated Digital Video Recorder (DVR)

Connected Car
-HomeLink® Car-to-Home Automation
-Integrated Toll Module
-PayByCar in-vehicle payment service partnership for Integrated Toll Module systems
-Simplenight e-concierge services integrated with HomeLink Connect app
-Mirror-integrated biometric systems
-Vaporsens Nanofiber Sensors (In-vehicle smoke detector to detect smoke or vape)
-Mirror-integrated driver monitoring system (DMS)
-Mirror-integrated in-cabin monitoring system (ICMS)

Dimmable Glass
-Interior and exterior auto-dimming mirrors
-Self-dimming sunroofs and moonroofs
-Dimmable combiner HUDs (Head-Up Displays)
-Sensor shrouds
-Dimmable automotive components
-Dimmable visors

History

1974 Established as a manufacturer of high-quality fire protection products.
Mar. 1976 Acquired Gentex Company, a Michigan general partnership.
1982 Developed the world's first electromechanical (motorized) mirror.
Aug. 1986 Acquired Vanguard Glass Fabricatiors, Inc.
Oct. 1994 Formed Gentex GmbH in Neckarsulm, Germany.
Sep. 1999 Formed partnership with Johnson Controls to integrate HomeLink system in mirrors.
Dec. 1999 Opened U.K. sales office.
May 2000 Opened sales office in France.
2013 Acquired Johnson Controls' HomeLink business.
Apr. 2020 Acquired Vaporsens, Inc., specializes in nanofiber chemical sensing research and development.
Sep. 2021 Acquisition of Guardian Optical Technologies, an Israeli startup, multi-modal sensor technology designed to provide a comprehensive suite of driver- and cabin-monitoring solutions for the automotive industry.

Supplemental Information 1