An artist's impression of a flying car Image Credit: Gulf News

Panaji: A company from the United States that is developing a flying car is eyeing the booming economies of India, Brazil and China as future markets, its co-founder said on Saturday.

About 100 people have already placed orders for the “combined flying-driving vehicle” the Transition, which has been priced at $279,000 (Dh1 million) and is scheduled for launch late next year, Massachusetts-based firm Terrafugia said.

The two-seat vehicle is designed to fly between local airports as well as drive on any road. The company says it is hoping that it will be the world’s first commercially viable flying car.

It has a rear propeller for flying and is powered for both flight and on the road by unleaded petrol from regular service stations.

It is small enough to fit into a household garage, the firm said on its website.

30 seconds

It converts from a car into a light sports aircraft in about 30 seconds.

“We will launch it initially in the US and eventually expand into Europe,” Carl Dietrich, chief executive and co-founder of Terrafugia, told reporters.