Google's co-founder and Alphabet CEO Larry Page is working on an interesting project — one that deals with "flying cars." Page’s aircraft was spotted on Oct. 22 at the Hollister airport in California. Recent reports revealed that Page has secretly poured $100 million into the project.

He is understood to have funded two different research teams to work on a motor that can rise above traffic jams. One of the teams, Zee.Aero, is based at the Hollister airport itself. It was set up in 2010 and a patent filed for a flying car in 2011 emerged last year.

Steve Eggleston, a worker at the airport, said, "It sounded like an electric motor running, just a high-pitched whine.” Other witnesses said that the vehicle hovered 25 feet in the air before landing rapidly by dropping to the ground.

Google has not publicly announced its plans to design a "flying car" yet, but a letter from Zee.Aero in May to the U.S. Department of Transportation stated that the company was building "an entirely new aircraft that will change personal aviation." The flying car product is expected to cost $200,000-500,000 and could be available by next year.

Google isn't the only company working on the so-called flying car technology. Other companies working on similar projects include Terrafugia, Aeromobil, Airbus, Moller International, Xplor-Air, Pal-V, Joby Aviation and Volocopter.