World's first genuine 'fly and drive' car unveiled

For the first time, consumers with a large enough bank account will have the opportunity to acquire a vehicle that actually ticks enough boxes to be considered a genuine 'flying car'.

Unlike other recently revealed aerial vehicles that are more like drones than cars, the PAL-V is the real deal and is capable of both driving along the road and flying through the sky.

Its 27-gallon fuel tank enables it to fly up to 310 miles at an altitude of up to 11,500 feet while also providing enough gas to travel 750 miles along the ground. The vehicle's flying ability comes courtesy of helicopter-style rotor blades which fold away when not in use and can be redeployed anywhere within as little as 10 minutes.

Prospective drivers however will need a full pilot's license in order to fly the machine.

"After years of hard work, beating the technical and qualification challenges, our team succeeded in creating an innovative flying car that complies with existing safety standards, determined by regulatory bodies around the world," said company CEO Robert Dingemanse.

The biggest caveat however is the price - the PAL-V costs a whopping $599,000.