Toyota Motor Corp (TYO:7203) is building flying cars by working with startup company Cartivator Resource Management.
Recently, the startup tested a prototype of the car that is supposed to make debut before the 2020 Olympic Games in Tokyo.
Dubbed Sky Drive, the single-driver flying machine will be used to light the Olympic torch in the 2020 Tokyo games, according to a report from The Associated Press via The Indian Express.
SkyDrive has four sets of propellers and is deemed to be the world’s smallest flying car. It is expected to have a top flight speed of around 100 kilometers an hour and a top landing speed of around 150 kilometers an hour.
“At a test flight Saturday in the city where the automaker is based, the gadgetry, about the size of a car and loaded with batteries and sensors, blew up a lot of sand and made a lot of noise. It managed to get up as high as eye level for several seconds before tilting and falling to the ground. Basketballs attached to its bottom served as cushions,” the AP said in the report.
Toyota Motor Corp (TYO:7203) has invested approximately $386,000 in Cartivator Resource Management, which is building the three-wheeled flying car using the drone technology. The startup is hoping to light the Olympic flame in 2020 with its Sky Drive flying car.
Cartivator Resource Management describes itself as “mainly young engineers and venture parties” volunteered “to carry out the development of the flying car” with the aim of lighting the torch at the Tokyo Olympic Games and Paralympic Games opening ceremony in 2020.
Toyota also betting on autonomous technologies and artificial intelligence technology. The automaker is expected to spend $1 billion over the next five years on self-driving and machine learning technology in a bid to improve vehicle safety.
Meanwhile, shares of Toyota Motor Corp (TYO:7203) closed up 1.72% on Friday. The stock is up down more than 11% so far this year.