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UPDATE (4 p.m.): Eileen Baker, a resident on Grays Bay, said she was driving by the scene earlier this afternoon, on her way home from errands. Upon arrving home, she decided to head to the site by skiing.
Baker said the people inside the vehicle "still had not been rescued" and estimated the car had been under for "at least 45 minutes."
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UPDATE (3:47 p.m. Saturday) - Two medical helicopters have landed on the ice in Gray's Bay to transport potential victims.
No word on condition of those rescued from the car.
Scanner chatter indicated there were two people inside the vehicle, both pulled from the submerged vehicle.
Grays Bay Bridge, which connects north Minnetonka to southern Wayzata, has been closed indefinitely while first responders work on the scene.
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(3:30 p.m.) Another tragic breakthrough on Lake Minnetonka's fragile ice has claimed another vehicle, and two are reportedly being transported to hospitals.
Dive teams have pulled out at least one passenger from the vehicle, according to Patch contributor Police Clips, and via reports on South Hennepin County Dispatch.
Minnetonka Fire, Wayzata Fire, Hennepin County Water Patrol and divers were all on the scene.
Despite dangerously cold temperatures, the pressure ridges and low water levels near bridges have made causeways dangerous. Moving water is always an issue near bridges, and Hennepin County Sheriff Rich Stanek advised people to avoid all causeways and bridges on Lake Minnetonka recently.
Tragedy struck the lake just three weeks ago when an 8-month-old infant, .
Patch will have more as this story develops.