Flying car to go on sale

The light frame plane whose wings can fold back like an insect is boosted by a rear propeller. The company says it is planning to accept first preorders for

A Slovakian company called AeroMobil on Thursday unveiled its version of a flying vehicle, a light-framed plane whose wings can fold back, like an insect, and is driven by a hybrid engine and a rear propeller.

'The technology is there. It has around 434 miles of driving range, too, or around 466 miles of flight range operating at 75 percent of its maximum speed.

The company, one of several developing such flying vehicles, aims to make up to 500 units of its first commercially available edition, priced at 1.2 million to 1.5 million euros ($1.29 million to $1.61 million).

Though it is not legal -yet - to take off from a highway.

The previous AeroMobil 3.0 prototype made news in 2014 when it was presented in Vienna.

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AeroMobil said its teardrop-like shaped AeroMobil Flying Car, displayed at the Top Marques Monaco, could switch to flight mode in less than three minutes.

In order to own the flying auto, however, owners must have both a driver's and pilot's license, AeroMobil Chief Communications Officer, Stefan Vadocz, said to Reuters.

The team began this journey in 1990 with a sketch of a vision for the future of transportation.

AeroMobilA Slovakia-based startup has tossed its hat into the very nascent field of flying cars.

'Our first model looked quite weird and it would have problems in the regular use. A turbocharged boxer engine that creates around 300 horsepower powers the flying vehicle in both the sky and road, although that engine in road use powers a pair of electric motors that drive the front wheels.

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