AeroMobil, a Slovakian automaker, reportedly on its way to turn magical tales into reality by unveiling its plans of designing and developing the world’s first ever flying car. In an announcement made at the SXSW Interactive 2015, the CEO Juraj Vaculik stated his company will be ready to launch and sell flying cars by 2017 to the public.

The AeroMobil 3.0 which is designed for both commuting on roads as well as flying is like any other standard two-seater car which works on fuel and fits into parking spaces. However, the car’s exceptionality lies in its ability to sprout wings and take off from a 200 yard runway and land on grass when required.

The car encloses a Rotax 912 engine akin to conventional airplanes and boasts a top speed of 193km/h and a flying range of 700 km. Moreover, the car requires 8 litre fuel for travelling a distance of 100km and also possesses a safety parachute to ensure security of passengers.

While the company’s prospects on engineering such a vehicle seems promising, it has to still deal with numerous hurdles associated with a flying car like acquiring a pilot’s license, runway for take-off and landing and the unimaginable cost a car like would carry.