Alef Aeronautics, a SpaceX-backed flying car startup, said it could begin production on its electrical vertical takeoff and landing (eVTOL) vehicle by 2025.

The US-based futuristic car company, currently working on two-seater and four-seater flying car models, is backed by Elon Musk’s space company, SpaceX and Tesla investor Tim Draper. 

In an interview with CNBC at Mobile World Congress 2024 last week, Alef Aeronautics CEO Jim Dukhobny said the Model A vehicle is the best-selling aircraft in history.

Alef said: “As of today, we have a little bit more than 2,850 preorders with deposits down, which makes it the best-selling aircraft in history, more than Boeing, Airbus, Joby Aviation, and most of the eVTOLs combined”.

Alef’s Model A vehicle is unique as it resembles a traditional car. Other flying cars on the market, like Eve Holding’s eVTOL, look more like a jet with helicopter rotors. 

The Alef Model A qualifies as an ultra-light vehicle, which follows the same regulations as small electric vehicles like golf carts and buggies. 

The car can also operate as a traditional land and flying vehicle, separating it from others on the market. The Model A has four small engines on each of its wheels, which operate similarly to a standard small electric vehicle.

When it wants to take to the skies, the Model A will use its eight propellers in the front and back of its base.

The Model A can fly up to 110 miles per hour in the air but has a maximum speed of 35 miles per hour when driving on land. 

Dukhovny said that the Model A could start production by the end of 2025 if the company passes vital regulatory approvals. 

The company received an airworthiness certificate from the Federal Aviation Authority in 2023, which granted permission to develop and research the Model A.

Alef said the Model A will cost customers $300,000 when it becomes commercially available. Sitting at 2,850 preorders, the startup would make an instant in $850m.