The flying car features retractable overhead and rear propellors and tail wings, allowing it to drive on the ground like a car, and take to the skies like a plane.
On the ground, the car can reach top speeds of 100mph, while in the sky it can travel at an impressive 200mph.
Mike Stekelenburg, Chief Engineer at PAL-V, said: “Although more and more flying concepts are announced, only a handful of companies work on a real flying car: one that can both fly and drive, ideal for city to city mobility.
“The combination offers unprecedented freedom: personal door-to-door flying mobility.
“The gyroplane principle not only provides us with a safe and easy to operate flying car but it also enables us to make it compact and within existing regulations, which is the most important factor to build a useable flying car.”
While a prototype was shown in Miami, a commercial version is already in production.
And despite having an eyewatering price tag of £425,000, its designers claim to have already sold 70 flying cars.
PAL-V claims that delivery of the flying car will start in 2021.