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Toyota Motor Corp. is working on a "flying car."
A startup backed by the Japanese automaker has developed a test model that engineers hope will eventually develop into a tiny car with a driver who'll be able to light the Olympic torch in the 2020 Tokyo games. For now, however, the project is a concoction of aluminum framing and eight propellers that barely gets off the ground and crashes after several seconds.
Toyota has invested 42.5 million yen ($386,000) in startup Cartivator Resource Management to work on "Sky Drive ." 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.
This is a pittance as an investment though. The equivalent of angel funding in Silicon Valley. The wildly speculative phase that only the rich can do just yet because the SEC hasn't rolled out the regs for normal folks to do so yet despite the JOBS Act of 2012…five years ago. Starting to stray there, sorry.