May 14 (UPI) -- Toyota is joining the quest to turn a flight of fantasy into reality.
The Japanese carmaker announced Sunday it will to back Cartivator, a flying-car project started voluntarily by 30 of its employees.
Toyota said 15 of its group companies will invest $375,000 over the next three years in the project, which has relied on online crowdfunding and other financing.
"Things will not progress if you wait and provide money only when the technology is ready," Toyota chairman Takeshi Uchiyamada said.
Skydrive, measuring 9 1/2 feet by 4 feet, claims to be the world's smallest flying car. It has a projected top speed of 62 mph while traveling about 30 feet above the ground.
Developers plan a manned test flight by the end of 2018 and hope Skydrive will be used to light the Olympic flame for the 2020 Summer Games in Tokyo.
Toyota is the latest to join the race to develop a flying car.