Google co-founder Larry Page has spent more than $100 million building flying cars

Larry Page

Google co-founder and billionaire Larry Page, has secretly spent more than $100 million to develop flying cars.

News of his big spend was revealed in a new report from Bloomberg Businessweek.

Page reportedly also owns a secretive startup called Zee.Aero, which launched in 2010.

The company, based in Mountain View, California, employs 150 people who are working on his moonshot project.

Page is also reportedly funding a second flying-car startup called Kitty Hawk. Kitty Hawk works independently from Zee.Aero, but has similar goals. It hasn’t been revealed how much Google’s co-founder has spent on that company.

Zee.Aero has two prototype aircraft located in a hanger nearby, Bloomberg says, which take “regular test flights.” Its vehicles are all electric-powered.

Here’s a diagram from a patent riginating in 2011. This was an early design, Bloomberg reports. It is now pursuing a “simpler, more conventional-looking design.”

Flying car from Larry Page

Designs made by Zee.Aero use propellers for vertical take-offs – essential for saving space – and some diagrams even show the vehicle wings folding up so it can fit in car parking spaces.

Zee.Aero’s website doesn’t give much information. “Based in the heart of Silicon Valley, Zee is developing a revolutionary new form of transportation,” a job portal says. “Working at the intersection of aerodynamics, advanced manufacturing, and electric propulsion, we provide a stimulating environment where creative employees can explore new challenges.”