Google’s ‘Flying Car’ makes its debut; Enter Kitty Hawk

$GOOGL, Google, a position of mine is flying higher today, up a cool 2%, ahead of earnings later this week. Today’s move takes the stock to fresh all-time highs, leaving the $1,000 mark right around the corner.

Today, a new video surfaced showing Google’s new project– it’s flying car. It’s looks more like an aircraft than an automobile, but that’s what their calling it. It’s official name is the Kitty Hawk. Here are some details:

Kitty Hawk, a startup backed by the Google (GOOGL, Tech30) cofounder, unveiled its prototype for an “ultralight” aircraft that can take off vertically — as long as you’re flying over open water.

In a demonstration shared online Monday, the Kitty Hawk Flyer is shown lifting off over a lake with the help of small propellers under its base. The prototype looks less like a car than a jet ski with wings.

The Flyer is expected to go on sale by the end of this year, according to the company’s website. The price has yet to be announced.

The startup says it has received approval from the Federal Aviation Administration for the aircraft to be flown in “uncongested areas.” Customers will not need a pilot’s license to use it.

“We’ve all had dreams of flying effortlessly. I’m excited that one day very soon I’ll be able to climb onto my Kitty Hawk Flyer for a quick and easy personal flight,” Page said in a statement provided to The New York Times, which was first to report the news.