Hungarian billionaire finances Slovak flying car

Hungarian businessman Zoltán Varga invests billions in flying car project AeroMobil.

Hungarian businessman Zoltán Varga has invested billions into Slovakian flying car project AeroMobil.

Varga has a history of investing in successful projects and actively endorsed the development of Hungarian low-cost airline Wizz air when it was relatively unknown.

Now the billionaire has turned his attentions to AeroMobil. “In case of involving other investors we are always making principal strategic decisions, because it has long-term effect on the company," Juraj Vaculík, the co-founder of AeroMobil, told Hospodárske Noviny.

The AeroMobil flying car is a prototype roadable aircraft which was first flown in 2013, designed by Daniel Klein. Vaculík believes that the vehicle, which is intended for wealthy buyers should be available for preorder in the near future. 

The flying car can carry two passengers with the maximum air speed of 200 km/h, up to 700 km in air. After an accident of an early prototype in 2015 a new version of the car is being developed by the investors who are competing in a dynamically evolving environment, other multinational companies (such as BMW and Mercedes) are also researching their own versions of flying cars and drone taxies.

According to experts the AeroMobil should be one of the first companies to provide a functioning, reliable prototype able to both fly and travel on the ground.

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