Traffic congestion is not a problem with the flying car. The technology is now a reality, as a Slovakia-based company, AeroMobil introduced its flying car during last week's Top Marques Monaco. The company has also begun to take pre-orders for its product.

The price tag for the flying car started at $1.3 million, according to report from United Press International. This will be the first limited edition and AeroMobil will produce only 500 vehicles, which will begin its delivery in 2020.

AeroMobil unveiled its flying cars during the annual exhibition of supercars and luxurious product Top Marque Monaco on April 20, last week. The flying car is a four-wheeled and twin-seat vehicle with a nine-meter (19 feet) long wingspan. The wing is a pull-out wings, which can extend to its full length in three minutes.

According to AeroMobil, the 2017 version is the latest prototype. The new 4.0 version is an improvement over the previous 3.0 version, that crashed on May 8, 2015, during a test flight in Nitra, Western Slovakia. Following the crash that lightly injured its test pilot Stefan Klein, the Bratislava-based company decided to upgrade its flying car.

“The newest AeroMobil is a tangible and truly cutting-edge technological advancement, " AeroMobil CEOJuraj Vaculík said. "It represents many years of pooled experiences from dozens of engineers from the automotive and aviation industries.“

Vaculík also boasted that AeroMobil is the only company that is capable of linking automotive and aerospace industry that no company has ever done before. Prior to its 2017 version, there have been four developmental versions of the flying car since the company introduced the concept in 1990.

The 2017 version of the AeroMobil flying car is also equipped with a ballistic parachute like the previous version, and able to travel at the speed of 260 kilometers per hour with a maximum distance of 750 kilometers. Watch the introduction video of the 2017 version of the AeroMobil flying car below: