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First flying car designed for the public debuts in October

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(Read caption) AeroMobil 3/2014 Edit_HD

Flying car prototypes are a dime a dozen. But this month a production-ready flying car is being unveiled to the public.

Austria-based firm Slovakia Aeromobil plans to unveil a production-ready "Flying Roadster" at the Pioneers Festival in Vienna on Oct. 29, according to Fox News. The Aeromobil transforms from car to a plane by unfolding wings that fit alongside the car's main cockpit and starting a propeller that is in the car's rear.

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"In terms of automobile configuration, it fits to a standard parking space, its engine enables it to tank at any gas station, it is fully accustomed to road traffic and as a plane it could both take off and land at any airport in the world," reads the company website.

The Aeromobil has a 27-foot wingspan when in airplane mode. The vehicle uses a Rotax 912 aircraft engine. The car has a top speed of 100 m.p.h. on the ground, and can reach 124 m.p.h. in the air. The Aeromobil's cruising range is 430 miles. The Flying Roadster can hold two people and weights almost 1,000 lbs. 

The Aeromobil flying car is the work of Stefan Klein, who began designing flying cars in 1990. The current Flying Roadster is the third version. The 2.5 Aeromobil prototype made its first flight last year.

An American firm is also set to begin selling a flying car soon. The Massachusetts-based Terrafugia will being selling its Transition model flying car to the public in 2015 for $300,000. The car will be able to fly 500 miles.

You can't fly the car with a regular state issued license. Terrafugia says owners need to have a pilot's license and pass a test to be able to fly the car.

The Terrafugia model needs a runway to takeoff, but the TF-X model is more like a helicopter, and can takeoff in a vertical position. But the TF-X model won't be available to the public for a while.