Transport technology

PERSONALISED navigation apps for disabled passengers and robots for freight at ports are among 67 transport technology projects being developed and tested through new UK government funding.

UK used Electric Vehicle (EV) prices continue to decline in the wake of supply surge, but growing affordability fuels strong demand.

According to the latest data from the Auto Trader Retail Price Index, the average price of a used car increased 2.8 per cent last month to £17,815, making May the 38th consecutive month of year ­ on ­ year (YoY) retail price growth.

Although it’s the largest YoY increase in six months, potential retail growth remains constrained by used EV prices, which fell 18.6 per cent in May, as the huge surge of stock entering the market (up 201 per cent YoY in May) continues to outpace very robust levels of consumer demand (up 44 per cent YoY). Market dynamics of high demand and low sup­ ply in the used EV sector last year, which caused prices to rise, meaning that current price drops largely represent a recalibration. Despite marking the highest rate of YoY retail price contraction recorded by the Index, there are signs of used EV values beginning to stabilise, with the rate of decline only marginally greater than the ­18.1 per cent drop seen in April.

Technology Minister, Jesse Norman, announced that the 67 innovative projects developing transport technology, are receiving a share of £1.96 million in funding as part of the government’s Transport Research and Innovation Grant (TRIG) Programme.

A record number of this year’s winning projects are based outside London, with almost four in five based outside the capital.

Transport and Decarbonisation Minister Jesse Norman said: “From making travelling easier for visually impaired passengers to improving rural connectivity, these winning projects have the potential to transform the future of transport.

“The government wants the UK to be a world leader in the future of transport and, through the TRIG programme, the Department for Transport is supporting innovators and businesses to decarbonise and improve transport while growing the econo ­

UK.”