Led group invests in development of flying vehicle

Led group invests in development of flying vehicle

Toyota is getting in on the flying auto craze-but with an Olympic twist. It plans to invest 40 million yen ($352,982) in Cartivator, a flying-car project started by a group of its own employees.

A group of young engineers from the auto and aerospace industries are working on the project, which is being funded by a number of investors including Toyota subsidiaries. Until now the group has relied mostly on online crowdfunding and other financing methods.

The company is giving about 42.5 million yen ($375,000) to the Cartivator project, which is developing the three-wheeled sci-fi vehicle that relies on drone technology to take flight.

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In the presentation video Skydrive sits next to the main arena of the Olympic games 2020 in Tokyo during the opening ceremony, coming into the stadium, and again rises into the air, then controlling it person lights the Olympic flame.

Following Airbus and Uber, Toyota is the latest large corporation to show interest in flying cars. However, the company decided in November 2015 to create a fund to invest in tech startups, including a research and development center opened in the US previous year dedicated to artificial intelligence.

A startup known as Cartivator is hoping to develop the flying automobiles and has just received a boost after it was backed by automobile giants Toyota.

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