The Flying Car Company Kittyhawk, founded by Larry Page, will close.

A setback to the long-elusive aim of creating flying automobiles, Kittyhawk, the air-taxi startup financed by billionaire Google co-founder Larry Page, will be closing.

The business announced on Twitter that it had decided to wind down Kittyhawk. "The specifics of what comes next are still being worked out."

The joint venture between Wisk Aero and Boeing Co. is anticipated to carry on the company's technology. 

Boeing announced on Wednesday that the closure of Kittyhawk won't have an impact on Wisk's operations.

Kittyhawk's beginnings can be traced back to 2010, when Zee.Aero, a firm at the time, set out to establish the market

 for so-called eVTOLs, or electric vertical takeoff and landing aircraft.The company was one of many companies working on the idea, 

which turned out to be more difficult than some had anticipated. Recent testing of air taxis has resulted in crashes, raising questions about their safety.

Numerous companies still compete in the air-taxi sector, such as Joby Aviation Inc., Archer Aviation Inc., Germany's Lilium NV, and Brazil's Eve, but their futures are dubious

given these cutting-edge vehicles. The latest generation of aircraft for human transportation have not yet received certification from aviation authorities.