Just 18 months after its maiden voyage, the Pal-V One flying car can finally be yours - if you have a spare $295,999 (£180,000) that is. Technically it's not a car - it's a three-wheeled motorcyle that transforms into a gyrocopter - but it is legal to drive, and fly, and switches between modes in just 10 minutes. The Dutch-built Pal-V One can reach speeds of up to 112mph and goes from 0 to 60 in under 8 seconds when driven on the road. Owners will need a Sports Pilot Certificate to fly one.The two-seater vehicle is on sale in the 2013 Hammacher Schemmler catalogue under the name The Helicycle, yet its design and specifications are identical to the Pal-V One's.Like many flying car prototypes, including the TF-X from Austin-based Terrafugia, the Pal-V needs a 540ft runway in order to take-off.When in flight mode, the vehicle looks like a helicopter, however, it is known as a gyrocopter or autogyro because the main power comes from the rotors at the rear of the vehicle. Its rotors spin considerably slower than a helicopter's blades, too, and can't stall. On the ground, the machine handles somewhere between a motorbike and a racing car - its chassis is built to lean into turns, and the two-seater can reach speeds of up to 112mph. Unlike most fictional flying cars, of course, it can't just extend its rotors then hurtle skywards - the process takes about ten minutes. Once the engine stops, the propeller folds itself automatically into the driving position. Pushing a button then lowers the rotor mast into the horizontal position. Rotor blades and tail have to be stowed away by the driver.'On the ground the vehicle drives like a sports car,' said Pal-V. 'Within minutes its rotor is unfolded and its tail is extended: then it is ready to take off thanks to the advanced gyrocopter technology.''With these successful test results it is proven that it is not only possible to build a flying car but also that it can be done within existing international rules for both flying and driving.'The Pal-V One features a 230hp, four-cylinder engine powered by petrol.Its 27 gallon tank means pilots can fly for up to 220 miles at low altitudes - around 4,000ft - or drive for up 750 miles.  It is made of carbon fiber, titanium, and aluminum and weighs 1,500lbs.(dailymail.co.uk)ANN.Az