We may have seen some frugal attempts at flying cars like the X-Hawk or the just announced Ferrari Flying car but none of these have given any specific details yet. The new flying car that you see taking a test flight is the M400 Skycar. This new car can cruise comfortably at 275 MPH (maximum speed of 375 MPH) and achieve up to 20 miles per gallon on clean burning, ethanol fuel. The car uses a principle similar to that of the British Harrier jump jet, the Moller Skycar Volantor incorporates a patented thrust deflection vane system that redirects thrust, enabling it to hover or to take off and land vertically from almost any surface.

The Moller Skycar Volantor will cost you $500,000 a pop. The Skycar is touted as safe and ideal for a wide variety of commercial and military applications. These include private and charter air travel, express delivery, newsgathering, border patrol, police and firework, and search and rescue, to name just a few.

Via