Carlo van de Weijer, director of Eindhoven's Technical University's Smart Mobility program, doesn't see flying cars as much more than a niche market.
"It's not really going to be a substantial part of the total mobility industry," he said. "It's a nice gadget to combine it with a car so ... it might be a successful company in selling quite a few," he said of the PAL-V.
In the air, the PAL-V is pushed forward by a rear mounted propeller driven by two engines. It is stabilized by a larger roof-mounted rotor that bolsters safety.
"The rotor is not powered," Dingemanse said, "so it's actually a parachute which is always available."
Its makers say the PAL-V will drive at up to 170 kilometers per hour (105 mph), fly up to 180 kmh (110 mph) and can fly about 500 kilometers (310 miles) on a single tank of regular unleaded gas.
Land it and the rotor and propeller fold away, the tail retracts and the PAL-V is ready to drive. Switching from road to aircraft mode takes about 10 minutes including performing the necessary checks, the company says.
With a price tag expected to be around 500,000 euros ($615,000) for the first production run of 90, the flying cars are not for everybody, but Dingemanse said he has plenty of buyers lined up. They will have to become certified gyroplane pilots to take their PAL-V into the sky and the company is offering training courses, too.
Just don't expect this flying car to lift off vertically if it gets caught in a traffic jam. The PAL-V needs a short runway or grass airstrip to take off and land.
With the first production model of the car now ready, the company can begin the final stages of certification with road and aviation authorities in Europe and elsewhere.
The U.S. Federal Aviation Administration said it is constantly working to integrate new technology into its regulations.
"Urban mobility technology is highly promising and we are vigorously working towards the development of policy and regulations to support it," the FAA said in a written response to questions from AP.