Watch the PAL-V flying car prototype make its maiden flight

The PAL-V One is a Dutch take on the flying car, and whereas its Terrafugia contemporary is more like a plane you can drive, the PAL-V One (Personal Air and Land Vehicle) is perhaps more accurately called a driving gyrocopter. According to the company, this flying Dutchman can reach terrestrial speeds of 112 miles per hour and its fuel economy checks in at 28 miles per gallon on the ground. Then once you've found a suitable place to take off, you unfold the auto-rotating main rotor, the gas-engine powered propeller extends, and you can take to the air. Max airspeed is also 112 mph, and airborn range is listed at 220-315 miles.

The PAL-V One has finished its maiden flight and is now working to secure investors for the commercialization phase – the company hopes to start delivering production models in 2014. Scroll below to watch video of the PAL-V one in action on its maiden voyage.