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.

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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.”