It's an idea that's never really taken off, despite featuring in countless books and films.
But the flying car could become a reality in two years, claim its makers.
Called the Autovolantor, it is being marketed as the perfect way for the rich and famous to avoid traffic jams, simply by taking to the skies.
The 'Autovolantor' used a specially designed hybrid fuel and electric system and could reach altitudes of up to 5,000ft
Its creators say it will cost £500,000 and allow drivers to reach speeds of 100mph on the ground and 150mph in the air.
Designer Bruce Calkins says the car, based on the £200,000 Ferrari 599 GTB, will be powered by eight fans mounted in its fuselage.
He said: 'On the ground these fans push the vehicle around with a firm but not-too-powerful thrust of deflected air.
The flying supercar is modelled on a £200,000 Ferrari 599 GTB with eight fans capable of creating as much as 800 horse power
'Once in the air the vehicle manoeuvres like a helicopter, tilting nose down to move forward, rolling right or left for changes in direction.
While maximum altitude could be much higher, the energy to obtain altitudes above 5,000 feet would be significant so we expect it to stay below that height.'
Mr Calkins said the car will run on a hybrid fuel and electric system to power the thrusters, creating as much as 800 horsepower.
He believes it will be able to travel for 75 miles by air or 150 miles by ground before it needs refuelling.
As yet, the design is in its infancy and only a tiny scale model exists.
Mr Calkins added: 'At first we were very sceptical that we could adapt a ground-vehicle with our technologies and make it work. But the model allowed us to verify quickly that it could in fact be done.'
The ambitious project was launched at aircraft designers Moller International in the U.S. after the company received a request to design the vehicle from a wealthy businessman who found the commute from the centre of Moscow to his country home would often be delayed by congestion.
For decades Dr Paul Moller, the company's founder and president, has dreamt of achieving a workable combination of ground and air transport.
Creators Moller hope the car could be available in just two years, but the asking price of £500,000 could put a few off
But despite the backing of a wealthy investor, he has yet to produce any practical real-world drive-and-fly vehicles.
Dr Moller concedes it may require a few tweaks to the Highway Code before the Autovolantor is allowed to hit the high street, saying: 'It seems that it might be practical in some parts of the world, but in our view a roadable aircraft, rather than a flying car, is still more practical for the greatest number of people.
'The Autovolantor is technically possible, but flying it in many cities is not going to be politically acceptable until it has been deployed successfully in other roles and environments.
'Practical or not, it excites the imagination to think about being able to rise vertically out of a traffic jam and just go.'Original here