Luxury car maker Aston Martin has unveiled a flying car dubbed the ‘sports car for the skies’ | City A.M.

Luxury fast-car manufacturer Aston Martin has unveiled a futuristic flying vehicle that has been dubbed the “sports car for the skies”.

The three-seater hybrid electric vehicle was announced yesterday at the Farnborough Airshow, in a bid to compete with giants like Google and Uber in the race to revolutionise commercial air travel.

Formally named the Volante Vision Concept, the flying sports car is designed to reach speeds of up to 200 miles per hour and will provide “fast, efficient and congestion free luxurious travel”.

With vertical taking-off and landing capabilities similar to a helicopter, the vehicle is set to have autonomous self-driving capabilities .

Read more: Rolls-Royce unveils ‘flying taxi’

The announcement comes in the same week as Rolls-Royce announced its prototype for a flying taxi that it aims to have in the air as soon as the early 2020s.

In May Uber also unveiled plans for a flying taxi service which is set to come onto the market in 2023, while Google has announced its “Kitty Hawk” flying car which the public will be able to try in test flights.

Read more: Uber picks Paris for new European tech hub focusing on flying taxis

Aston Martin president and chief executive Andy Palmer said: “With the population in urban areas continuing to grow, congestion in towns and cities will become increasingly demanding. We need to look at alternative solutions to reduce congestion, cut pollution and improve mobility. Air travel will be a crucial part in the future of transportation, the Volante Vision Concept is the ultimate luxury mobility solution.”