Flying Car: California designers reveal matt black car powered by a jet engine

The anticipated road performance is 100 mph (160 km/h) top speed with a 0-60 mph time of 7-12 seconds, depending on fuel load.

Based on similar performance of electric vehicles they hope to reach 80-120 miles (129-193 km) of driving per charge, which should be adequate considering the myriad of small airports around metro areas.

The GF7, despite its looks, is a conventional aircraft. It would need a runway 2,500 ft (760 m) long for takeoff and landing.

Approach and landing speeds should be around 90-110 knots (166-203 km/h).

Cruising speeds would be between 0.75 and 0.82 Mach, and 350 knots indicated airspeed, which equates to a true airspeed of 550 mph at 25,000 ft.

Expected range on a full tank is 700-1,000 miles (up to 1,600 km), depending on the flight profile.

The team hopes to have a flying prototype completed in about four years.

There is no getting around the estimated selling price, which will be between 3 to 5 million dollars.