A flying taxi to rule the skies by early 2020s?

Rolls Royce has unveiled a flying taxi concept which can transport up to five passengers as far as 800 kilometers with one charge. The hybrid taxi can fly at speeds of 400kmph, according to the company.

The vehicle can take off and land also vertically as its wings are able to rotate 90 degrees.

"Electrification is an exciting and inescapable trend across industrial technology markets and, while the move to more electric propulsion will be gradual for us, it will ultimately be a revolution. Building on our existing expertise in electric technologies and aviation, Rolls-Royce is actively exploring a range of possible markets and applications for electric and hybrid electric flight. Rolls-Royce has a strong track record as pioneers in aviation. From developing the first turbo-prop and jet engines, to creating the world's most efficient large civil aero-engine and vertical take-off and landing solutions, we have a very strong pedigree," said Rob Watson, head of Rolls-Royce's electrical team.

The taxi uses an electric battery which is powered by gas turbine technology.

Although the initial idea for the vehicle is to use it as a taxi, according to the company it can also have military usages.

We don't know what the future brings, but there's a chance we will see the taxi in the air by early 2020s.

Similar ideas have also been unveiled by other companies, including Uber.