While best known for creating some of the most exquisite chauffeur cars of our time, Rolls Royce are making a name for themselves across the transport industry. Having toyed with the idea of a flying taxi for many years, it appears that the British manufactures are getting very close to take off.

According to the world-leading engineers, their 250mph plane could be ready as soon as next year. Impressing with a keynote presentation on the vehicle, the ‘flying taxi’ will apparently be able to fly distances of up to 500 miles. With its prototype to feature 5 seats, the images were shown at Farnborough Airshow in Hampshire.

Speaking during the keynote, head of Rolls-Royce’s electrical team, Rob Watson said:

‘In this market, you will see something like this flying within three to five years, and we will demonstrate the system in two years.’

But, how much has this project set Rolls Royce back? Well, according to brand officials, the plane’s development has cost ‘single-digit millions of pounds’.

Showcasing an innovative design, the plane’s most iconic feature is undoubtedly its vertical take-off and landing capability, ridding of the need of a runway. Expected to revolutionise the way in which people travel, the design received a warm welcome from engineering companies are travellers alike.

Credited for its electric engines, Rolls Royce are showing a passion for greener travel.

“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.”

“Think of it like the car industry. Historically everybody had an internal combustion engine.”

“Over time you add more electric capability to it and then you start to see electric cars. In the same way, we are introducing a hybrid propulsion system into this market because we think it gives you that range and capability.”

Let us know what you think; will flying taxis be adopted by the masses?