Chris Milner of Milner Motors explains the philosophy of their Flying Car.  The AirCar can be driven on the roads, then the wings unfolded to take off from an airfield.  The goal is to reduce travel time from point A to point B. 

They also have a version without wings, the ElectriCar, which is basically the fuselage without wings, and a more powerful electric drive system.  The vehicle will easily travel 100 miles on a charge, and also features a gasoline-driven generator for longer trips. 

For more details, see www.milnermotors.com.