In the 50s, the speculation about a future of flying cars was all the rage.

Come the noughties and the concept gathered more momentum.

Now it seems as if the fifties fantasy is about to take off.

Up up and….

The SpaceX-backed flying car company, Alef Aeronautics, has already received nearly 3,000 preorders

These reservations are deposits on a flying car that will cost $300,000 each. It means the Elon Musk backed business is in business.

Pocket performance

Each reservation cost just $150 to book and option on the futuristic two-seaters.

With numbers hitting over 2,800, it means the cars could be taking to the skies sooner than many might imagine. The reservations continue to mount.

This  flying car is known as the Model A and has already received an air worthiness certificate.

The company says this marked the first time such a vehicle has received legal approval to fly from the US Government.

Because the FAA is currently developing policies for electrical vertical takeoff and landing (eVTOL) vehicles, the certificate limits the locations and purpose for which the car is permitted to fly.

 

Take off

Alef said in a press release in October that it had been test-driving and -flying a full-size prototype since 2019.

CEO and cofounder Jim Dukhovny told CNBC that the potential buyers have all paid the deposit required to secure their reservation. It costs $150 to put your name down, or you can pay $1,500 to be in its priority queue.

The two-seater is fully electric, with a driving range of 200 miles and a flight range estimated at 110 miles.

Potential owners of this futuristic vehicle will be able to “drive on the street, take off vertically when needed, and fly overhead above traffic,” the company website says.

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Cashing in

The Model A became available for preorder in October 2022, and deliveries are set to begin in Q4 of 2025. In July, Alef said it had received $250 million in preorders.

If all 2,850 of those who reserved a Model A follow through, the company is looking at over $850 million in sales.

And for those who don’t have $300,000 to spend on a flying car right now, Alef said it’s working on a $35,000 four-seater sedan — called the Model Z — set to release in 2035.

The Model A was the first flying car to receive approval for test flights from the Federal Aviation Administration in July.

Dukhovny called it “one small step for planes, one giant step for cars.”