Toyota has been a pioneering force in the global electric cars market and has always been at the forefront of technological innovation in the global automotive sector. The company has made clear, firm moves in the automotive market of late, indicating a clear strategy being put in place.
Toyota Drops Collaboration with Tesla, Sets Up Alone in Electric Cars Market
Toyota had been one of the early research and development partners for Elon Musk’s ambitious automotive company, Tesla. The electric vehicle pioneer had a partnership of more than five years with Toyota, including the sale of a disused factory from the automotive giant to the rising upstart. However, following lack of sustained results in the development of an electric version of Toyota’s RAV4, the latter has sold its entire stock in Tesla, amounting to around 1.4% of the company.
Making Flying Cars a Reality: Toyota’s Next Step?
The Japanese carmaker recently made headlines with their investment in Cartivator Resource Management, a Japanese startup developing flying vehicles. SkyDrive, as the vehicle is known, is expected to be able to fly at more than 60 mph at up to 33 feet off the ground. When driven as a regular on-road vehicle, SkyDrive’s top speed jumps to 93 mph.
Cartivator Resource Management has received 42.5 mn yen from Toyota in what is clearly Toyota’s step forward in embracing the future of urban transportation, particularly in emerging economies where lack of driving and parking space are already becoming concerns in major urban centers. As a target to prove the capability of flying car technology to work feasibly, Toyota aims to ignite the 2020 Olympic torch with a flying vehicle.