The Fight To Uber, Google In Flying Car Race

Autonomous vehicles have only just begun to navigate our streets and already the world's innovators are setting their sights on the next big transportation trend.

This week Rolls-Royce entered the fray, unveiling a concept electric vertical takeoff and landing vehicle at the Farnborough International Airshow in Britain. The vehicle could carry as many as five passengers at speeds up to 250 miles per hour for approximately 500 miles, according to Rolls-Royce.

Rolls-Royce said the vehicle could be airborne as soon as the early 2020s, but the company said it plans to create a vehicle prototype within the next 18 months.

"Building on our existing expertise in electric technologies and aviation, Rolls-Royce is actively exploring a range of possible markets and applications for electric and hybrid electric flight," said Rob Watson, who heads Rolls-Royce's Electrical team, in a news release. "We are well placed to play a leading role in the emerging world of personal air mobility and will also look to work in collaboration with a range of partners."

The company said its concept vehicle would be powered by six electric propulsors "specially designed to have a low noise profile." To take off or land vertically, the company said, the vehicle's wings would rotate 90 degrees. Once the craft reaches its cruising height, its vehicle's propellers would fold away and the craft would rely on several rear propellers for thrust.

olls-Royce said the vehicle would fill a niche created by overtaxed transportation systems in increasingly crowded cities. Watson told Agence France-Presse that he envisions an electric version of the vehicle moving passengers around a city but a hybrid propulsion system carrying passengers longer distances, such as between London and Paris. The company noted that the vehicle could be adapted for military purposes as well, though no detail was provided.

"Electrification is an exciting and inescapable trend across industrial technology markets and while the move to more electric propulsion will be gradual for us, it will ultimately be a revolution," Watson said.