It seems that humankind is about to realize one of its age-old dreams: the flying car. According to Motor Authority, Slovakia's Aeromobil plans to unveil a production-ready version of its "Flying Roadster" at the Pioneers Festival in Vienna, Austria, on October 29^th.

The latest model of Aeromobil's flying cars is Aeromobil 3.0, which is the result of Slovakian designer Stefan Klein's hard work dating back to 1990. Klein has stated that he and company co-founder Juraj Kaculik decided to speed up the production process of 3.0 in recent months due to the success and "the enthusiastic reactions of the global engineering and design community" to the company's recent prototype, version 2.5.

Version 2.5 made its debut roughly one year ago, and proved that it could run on both road and runway. So far, Aeromobil has not discussed any changes made for the production version.

According to BBC, Aeromobil 2.5 features carbon fibre bodywork over a steel chassis, and is equipped with a horizontally opposed 1,211 cc four-cylinder engine producing about 100 horsepower. Its cruising range is 310 miles on land and 430 miles in the air, and the entire machine weighs in at 992 pounds. Furthermore, the Aeromobil boasts a 27-foot wingspan.

The Aeromobil works to transform itself from plane to car by folding its wings behind the cockpit. Motor Authority reports that the wings fit alongside a boom that houses a shaft for the rear-mounted propeller, and serves as the mounting point for the flying car's tail.

Despite having a lot of extra bodywork, the Aeromobil is designed to fit in a standard parking space, and run on pump gas. However, it is likely that owners will have to splurge on premium gas.

 Klein stated, "We want to make personal transportation more exciting, more efficient and sustainable. With ever more cars on the roads and ever more crowded airports, travelling is no longer what it used to be," further explaining the motivation behind the project.