The Government of Australia has announced its plans to provide a grant of A$55m ($42m) to iMOVE co-operative research centre (CRC) over the next ten years.

iMOVE co-operative research centre (CRC) was established in response to community interest. It collaborates and works with various organisations and researchers on the development of intelligent transport systems in Australia.

iMOVE CRC bid leader Ian Christensen said: “We are excited to finally receive the green light and we know that many participants in the CRC are eager to start their projects.

"We have plans to accelerate the CRC formation processes and hope to formally commence operations on the 1st July 2017."

“We have plans to accelerate the CRC formation processes and hope to formally commence operations on the 1st July 2017.

“In the interim we will be meeting with our partners to get them started on their preparations so as to ensure a quick and effective start to our activities.”

This grant for ten-year period will allow the 46 partners to develop technologies that will offer better options and experiences for individual travelers as well as lead to productivity improvements in logistics and provide access to new markets for firms.

The centre expects to have a crucial role to play alongside other national bodies in aiding states, territories and industry bodies to collaborate and deliver connected and intelligent transport systems.

According to iMOVE, over the next decade, vehicle-to-vehicle and vehicle-to-infrastructure connectivity will provide a platform for the development of a smarter and more productive transport system in Australia and worldwide.

These next generation products, systems and services are based on higher levels of connectivity, greater data processing power and lower operating costs, which will enhance users’ travel experiences with richer, real-time data, and more predictive analysis.