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An interesting interview with the CEO of Pal-V on a local radio station this morning making the statement that the flying car will be available for purchase at the end of this year. The first version, limited edition, will set you back about 500K Euro (a little less than 700K US$). A car license and a license for flying Gyrocopters is required to use the Pal-V

On the ground this slim, aerodynamic, 3-wheeled vehicle has the comfort of a car with the agility of a motorcycle thanks to its patented, cutting-edge, ‘tilting’ system. It can be driven to the nearest airfield and take off just like any other airplane. The single rotor and propeller are unfolded to make the PAL-V ONE ready to fly.

When airborne, the PAL-V usually flies below 4,000 feet (1,200 m), the airspace available for uncontrolled Visual Flight Rules (VFR) traffic; so there will be no interference from commercial air traffic. Furthermore, the PAL-V is powered by a very robust, flight certified aircraft engine. It runs on gasoline. It can reach speeds of up to 180 km/h (112 mph) both on land and in the air.

The PAL-V ONE has a very short take off and landing capability, making it possible to land practically anywhere. When not using controlled airspace, you can take off without filing a flight plan. Flying a PAL-V is like a standard gyrocopter. It is quieter than helicopters due to the slower rotation of the main rotor. It takes off and lands with low speed, cannot stall, and is very easy to control. The gyroplane technology means that it can be steered and landed safely even if the engine fails, because the rotor keeps auto rotating.

For more details, images and video's, head over to the Pal-V website: http://www.pal-v.com