Toyota (TM) is joining forces with a group of related startups working on flying car development. The company has backed the Cartivator team with a small investment of ¥40M and allowing some of its engineers to work on the project.
The goal is to create a car that can hover like a drone about ten feet off the ground and travel at a flight speed of ~62 miles per hour.
The team has it eyes on using a flying car to light the flame for the Tokyo Summer Olympic Games in 2020.
Other companies reported to be interested in flying cars include Uber, Google, Tesla and Airbus. Industry insiders see some limited commercial applications for the flying car concept.
Now read: Ford Has Value As A Disaster Hedge »