After so many teasers, Lexus has decided to release a video showing us their hoverboard in action. This impressive piece of technology was developed in 18 months and uses two cryostats which works like reservoirs that store a superconducting material.
This material is "heated" at -198 degrees through immersion in liquid nitrogen. In order to work, the board was placed above a track that has permanent magnets. 
The magnetic field from the track is effectively ‘frozen’ into the superconductors in the board, maintaining the distance between the board and the track—essentially keeping the board hovering. This force is strong enough to allow the rider to stand and even jump on the board”, said CEO Dr. Oliver de Haas.
In order to demonstrate the hoverboard capacity, Lexus has developed a special skate park that features about 200 meters (650 feet) of magnetic track that was hidden beneath the ground.
Embarking on this project, we set out to push the boundaries of technology, design and innovation to make the impossible possible."  He added "We’ve experienced the highs and lows and have overcome a few challenges, but through mutual determination we have created a demonstration of our philosophy in design and technology to create Amazing in Motion”, said Lexus International Executive Vice President Mark Templin.

Source: Lexus