Is it a car? Is it a plane? For AeroMobil, it’s both.

The Slovakian startup has unveiled the latest concept in its range, the electric four-seater AeroMobil 5.0 VTOL (vertical take-off and landing) vehicle. It is designed to offer a ‘flexible door-to-door flying-taxi service’, the company said in a news statement today.

Innovators Magazine reported the arrival of the AeroMobil’s 4.0 concept model last year, which it plans to make available to the consumer market by 2020.

The company says it wants to ‘lead the industry with the most comprehensive door-to-door flying car solution covering the first-to-last mile in all weather conditions, for short, medium and longer distances up to 700km in a single journey’.

“We see flying cars as versatile vehicles that both fly and drive, which is what we will be able to offer with the AeroMobil 4.0 STOL and AeroMobil 5.0 VTOL concept.  We plan to deliver the vehicles with the range needed for urban and intra-urban journeys, allowing customers to travel in any weather conditions while maximising the efficiency for flying taxi operators,” said Douglas MacAndrew, CTO of AeroMobil.

The 5.0 model could arrive on the market in seven years and will follow the planned 4.0 roll-out.