Japan aims to develop flying cars

Japan plans to develop flying cars by 2020, enlisting about 20 companies to manufacture airborne vehicles in the country, according to Bloomberg.

According to the report, 20 companies, including Uber, Boeing, NEC, Toyota Motor-backed startup called Cartivator, ANA, Japan Airlines and Yamato representatives will gather at the end of this month for the first of their monthly meetings.

The Ministry of Economy, Trade and Industry and the Transport Ministry plan to draft a road map for technological development and regulations this year.

The ministry said Friday it plans to seek $40.4 million in funds to support private-sector development of equipment for flying cars, including high-performance batteries and motors.

"The Japanese government will provide appropriate support to help realize the concept of flying cars, such as creation of acceptable rules," the trade ministry said.