Inventors have been attempting to develop flying cars since about 1965, but with limited success to date. The closest that anyone has made it yet is Moller International, but its prototypes thus far have not done much more than hover. This is despite an estimated $200 million USD in investment and 40 years of work. However, Moller is accepting deposits for its M400X skycar, which will cost between $500,000 and $1M US Dollars (USD) depending on delivery position. The skycar is expected to go into production around 2009, but several promises to this effect have been made in the past, and the skycar has never gone into production.
Moller has put its M200G "flying saucer" into production, which could cost less than $100,000 USD. However, this is not a flying car per se, as it only hovers about ten feet off the ground. Yet, if it can be used in everyday contexts, it might become quite popular. Like the M400X skycar, the M200G is a VTOL craft (vertical takeoff-and-landing), "capable of flying in a quick, nimble, and agile manner." Dr. Paul Moller, founder of the company, calls these craft "volantors." Prototypes of flying saucers, no larger than a small truck, have been built since the 60s, but studies have usually determined that they're more expensive than they're worth.
Fueled by alcohol and powered by inexpensive Rotapower engines with few moving parts, if the M400X is actually rolled out, it will have the potential to transform transportation. Even if the M400X is delayed further, it's only a matter of time until some company successfully develops the flying car concept. On Moller's website, the specs of the M400X are advertised as follows:
Maximum speed: 375 MPH
Cruise speed (20,000 ft.): 275 MPH
Range: 750 Miles
Size: Large automobile
Best mileage: approx. 20 MPG
Useful payload: 750 lbs
Can hover with one engine failed
Time will tell if the M400X reaches production. But if it does, what an achievement!