Parajet Skycar prototypes – Click above for high-res image gallery

Earlier this year, the Parajet Skycar Expedition, featuring the "World's First Bio-fuelled Flying Car," flew from London, England to Timbuktu in Mali, Africa. If you lusted over something so incredibly cool – a car that can transform from ground to air mode in about three minutes and actually works in both areas, then we've got good news for you: Parajet International Ltd has struck a deal to produce road-legal SkyCars with Rage Motorsport Ltd.

Rage will build the vehicle and Parajet will add all the parts that make it fly. A mock-up of the vehicle is pictured here, but Parajet says a "totally new chassis is being designed for the SkyCar which accommodates the rear fan system into the tubular chassis work." This will reduce weight by about 80 kg (176 lbs). Other changes are to include a re-positioned rear parachute, more legroom and a three-cylinder, 140 horsepower fuel-injected Yamaha engine. How long will you have to wait for one? Parajet says test flights of the skycar should happen this September and the release date could be early 2010.

Watch a CNN-produced video of the Skycar in action after the jump.


Related GalleryBiofueled Skycar

[Sources: Parajet Ltd; CNN.com]