I guess you could say it's Elevator Action's distant cousin.
The copyrights say it's developed by "Chuo Co., Ltd." but I actually am going to take a guess and say it was outsourced to Daiei Manufacturing, since Super Rider, sharing similar hardware to this game, along with the Fitter and Pit N' Run hardware, all seem to share graphic styles in common, along with sound code, from what little I can tell from Z80 knowledge. Plus, Taito spilled the beans and mentioned "Kabushiki Kaisha Daiei Seisakusho" on Super Rider's copyright entry in the United States.
Still wondering who in tarnation actually developed Safari Rally, Phoenix, and Pleiads though. (maybe Jaleco? Naughty Boy and Pop Flamer share similar hardware to Pleiads, and it was said that Phoenix was outsourced to a "smaller Japanese developer".)