Incredible flying car with electric engine and folding wings promises freedom from traffic jams

Hoversurf, the Russian company behind the notorious "hoverbike", has unveiled its latest invention - a flying car with folding wings that can fit into parking spaces and promises freedom from traffic jams.

Dubbed the 'Formula Project', the vertical take-off and landing (VTOL) vehicle seats up to five people, and is powered by 52 turbine propulsion units and 48 electric thrusters.

Its futuristic body is formed from 3D printed carbon fibre and metals, and it has fold-away wings, so it can fit into a normal car parking space or garage.

It navigates using 3D vision technology, and is designed to be as aerodynamic as possible, with a good weight to strength ratio.

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Hoversurf says that, unlike rival flying car concepts, its Formula Project vehicle is "ready to use in real world".

"Do you know the problem of all projects of flying cars? They are all made for the future. None of them you can not use today. Impossible to parked at the store or put in a garage," the company says on its website.

"Formula - is created for the present day. You will not notice how quickly it will become a part of your life - conveniently and safely."

Hoversurf made headlines earlier this year when it announced that police in Dubai would be using its hoverbike - called the Scorpion 3 - to patrol the streets.

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The Scorpion 3 is capable of flying five metres above the ground for up to 25 minutes, hitting speeds of up to 43mph and carry up to 300kg of weight.

Russian bank Vnesheconombank has put several million US dollars into the project, and claims the bikes could be available to buy from as early as next year for between £30,000 and £60,000.

"Actually, it is surely not a motorcycle. It is rather a prototype of a platform, which has a multifaceted future," the bank's chairman Sergey Gorkov said.

"We believe it has prospects. We are planning to invest in this multifunctional platform. We think we will need several millions of dollars."

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Hoversurf isn't the only company working to develop flying vehicles. Last October, Google spent £70 million on developing a flying car , with CEO Larry Page flying a prototype over the tarmac at an airport in California.

Airbus - an aerospace company - has also announced plans to test a prototype for a self-piloted flying car by the end of the year.

Meanwhile, Uber has hired NASA engineer Mark Moore to help develop its "Elevate" programme, which could eventually see customers hailing helicopter-like vehicles in the same way they hail taxis.

Uber's vision for "on-demand aviation" involves fleets of small vehicles that can take off and land vertically, are electrically powered, and have ranges of between 50 and 100 miles on a single charge.

Source: Incredible flying car with electric engine and folding wings promises freedom from traffic jams