Lexus has decided to 'hop on' (sorry) and join the pack by unveiling its very own hoverboard and well, it's absolutely stunning.
Using liquid nitrogen-cooled superconductors and permanent magnets, Lexus claims that it has 'one of the most advanced' hoverboards the world has ever seen.
Made using a blend of strong lightweight materials, the hoverboard has a bamboo surface while its secretive power source is hidden from view with what looks like a carbon-fibre mesh body.
While Lexus is remaining tight-lipped about the specifics of the hoverboard the company has revealed that it is currently being tested by professional skaters in Barcelona.
Magnetic hoverboards aren't new as a concept, and while they technically do work they come with a number of key limitations.
For starters there's the cost: they require complex and expensive components. Then there is the principal theory behind how they work: magnets.
This comes with a fairly major caveat which is that for the hoverboard to actually hover the floor needs to be made of a suitable magnetic material.
Effectively this would rule out concrete pavements, grass and well just about everywhere you'd actually want to use a hoverboard so if Lexus has managed to overcome this rather enormous hurdle then we'll be seriously impressed.
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The company has released a teaser trailer as well but sadly even that reveals nothing, refusing to even show the hoverboard being ridden.
For now then we'll just have to place our faith in Lexus and hope that the hoverboard is as incredible to use as it is to look at.