Toyota is the latest major corporation to invest in future technologies aimed toward developing the flying car.
The company has invested $483,000 AUD into the project being developed by a group of Japanese engineers.
The Cartivator group, the company heading up the project, had previously sought out investment through crowd funding during the development stage.
Measuring 2.9 by 1.3 metres, the Skydrive car employs drone technology to reach a projected top flight speed of 110km/h, maintaining an altitude of 10 metres above ground.
Comprised of 30 volunteers, the engineering team hopes to have the three wheeled, four rotor powered vehicle completed in time to light the Olympic flame for the 2020 Tokyo Games.