Well, it won't be made by Toyota. In fact it may not be made by anyone, but a company called Falx is working on a hybrid tilt-wing design with a gasoline generator powering two electric motors.
It's a pretty cool looking aircraft, but browsing through the website shows that they're still at the early-concept stage (as in, "We have cool ideas, give us money and they might turn in to a product"). Maybe they could build it out of Buckypaper.
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