It has been a sci-fi dream for decades - a car that can simply take to the air to avoid traffic . However , a Slovakian firm has said it has finally cracked the problem - and it will sell in it just two years . The AeroMobil can fly 430 miles on a tank of petrol - and when its wings fold down , it 'll fit into a normal parking space . Scroll down for video . Aeromobil is a 'flying car ' that can fit in a standard parking space , and could both take off and land at any airport in the world . When in flight mode , it can go 430 miles , reaching 124mph - but can fold up its wings to travel on the road and fit in a single parking space . Aeromobil is a 'flying car ' that perfectly makes use of existing infrastructure created for automobiles and planes , and opens doors to real door-to-door travel , ' the firm says . When in its car configuration , it can fit into a standard parking space , and it also takes normal fuel pumped at every service station . The latest version is the third generation of the craft . 'It is now finalised and has been in regular flight-testing program in real flight conditions since October 2014 , ' the firm said . At South By Southwest , Juraj Vaculik , co-founder and CEO of AeroMobil , spoke at a panel about the future of flying cars , predicting a world ahead in which these vehicles easily merge with existing transportation . He says it will be on sale in 2017 , and that the firm was also developing a self driving ( and flying ) version . Tatiana Veber , an AeroMobil spokesman said : 'We have been developing the concept of a flying car since 1990 . 'Our first model looked quite bizarre and it would have problems in the regular use . 'That was a signal to improve the concept of the flying car in a way to become an integral part of the regular road traffic . The winds fold behind the driver of the car when it is on the road . The car seats two , although the pilot will need a licence to fly it . 'We got a positive feedback from several experts in avionics , which appreciated design and the technical solution of the process of transformation . 'The car is constructed to be fuelled at regular gas stations using the fuel for Rotax 912 ULS engine . ' AeroMobil says its third prototype is ready to be shown to the world this October 29th at the Pioneers Festival in Austria . When in plane mode , the craft is powered by a propeller . The firm has even completed the interior of the craft , and says it is undergoing advanced flight tests in Slovakia . However , design is still not perfect- the wings fold into the back seat behind the driver when in car mode . The firm has also released a video of it in action , driving through city streets then taking to the air . 'Aeromobil 3 is stylish , comfortable for both the driver and passenger , and exceptionally combines the performance of a sports car with qualities of an 'ultralight ' , ' it says . The vehicle can reach 200km/h when in the air , and 160km/h on the roads .
AeroMobil can fly 124mph on a tank of petrol . When its wings fold down , it can fit into a normal parking space . New video reveals the plane is already in advanced flight trials . Firm claims design is 'production ready ' and will go on sale in 2017 .