FARNBOROUGH (Britain) • Rolls-Royce revealed plans this week to develop a hybrid electric vehicle, dubbed the "flying taxi", which takes off and lands vertically and could be airborne within five years.
The British engine maker showed off the plans at the Farnborough Airshow for the first time, as other players also rush into the market segment.
Rolls-Royce said it hoped to make a prototype of its electric vertical take-off and landing (Evtol) vehicle within the next 18 months, and could potentially take to the skies in the early 2020s.
The Rolls-Royce Evtol plane will seat four or five people, with a flying range of 805km and a top speed of 320kmh.
"In this market, you will see something like this flying within three to five years, and we will demonstrate the system in two years," said Mr Rob Watson, head of Rolls-Royce's electrical team. "At the end of next year we will be flight ready."
The hybrid vehicle, which has so far cost single-digit millions of pounds to develop, will use a traditional gas turbine engine with an electrical system wrapped around it.
Rolls-Royce is also researching an all-electric product but that is not as advanced as the Evtol offering.
"There is an emerging market for all-electric planes but we believe that you need a level of requirement that an all electric system cannot really provide today," Mr Watson said.
"So, all-electric is the way to hop around within a city, but if you want to travel 200 or 300 miles, if you want to run London to Paris, then you are going to want to run something that will give you that range.
"So we think you will see hybrid propulsion systems starting to make this market."
Rolls-Royce is not alone in the hybrid "flying taxi" marketplace.
Other companies researching the sector include US taxi-hailing company Uber, the Google-backed Kitty Hawk project, Lilium Aviation in Germany, Safran in France, and Honeywell in the United States.