Lexus built a real hoverboard

We may not have flying cars yet, but we could finally be getting a hoverboard. 

Lexus has built a functional prototype of a hoverboard and it looks just about as impressive as Lexus cars.

The company recently posted a video of skateboard-like device, which it calls SLIDE, on its website. The company calls the device the "first real, rideable hoverboard," however, the video does not show the board in action. 

The technology behind the futuristic device is magnetic levitation. It uses liquid nitrogen-cooled semiconductors and magnets for its frictionless movement, according to the Lexus website. 

"When technology, design and imagination come together, amazing things can be achieved. Presenting SLIDE," Lexus said in a tweet on Tuesday. 

The hoverboard is the latest project in the company's Amazing in Motion series of videos which showcases new technologies Lexus is working on. 

Of course, Lexus isn't the first company to tackle the hoverboard idea. Last year, the California-based company Arx Pax showed off its hoverboard model called the Hendo board. The company, which launched its product on Kickstarter, quickly sold out of its few flying skateboard models for the hefty price tag of $10,000 a pop. 

Lexus will begin testing its device this Summer in Barcelona, according to a Bloomberg report. While there is no word yet on when the device will go on sale to the public, it's probably safe to say that Back to the Future fans will be anxiously waiting. 

Check out a video of the hoverboard below.