Hendo was first out with a hoverboard, and now Lexus is launching their own board named Slide on August 5th. Wired has written a longer piece about the mechanics behind the board:

According to Lexus, its hoverboard relies on superconductors and magnets, which combine to repel the force of gravity and lift an object—like, say, a fancy skateboard and its rider—above the ground.

That may sound familiar to anyone who recalls the Hendo hoverboard, which debuted as a Kickstarter last fall. You can read about the physics behind the Hendo in great depth here, but the key difference between it and the Lexus project is that Lexus opted for a superconductor—which creates a different kind of magnetic field—instead of a plain ol’ conductor.

Watch the teaser: