This flying-car startup that's backed by SpaceX has almost 3,000 preorders

Alef Aeronautics Model A
The Aeronautics is designed to take off vertically and "fly over traffic."Alef Aeronautics
  • Alef Aeronautics said it's received over 2,850 reservations so far for its $300,000 flying car.

  • The Silicon Valley startup is backed by Elon Musk's SpaceX.

  • It costs $150 to reserve one of the futuristic two-seaters.

Cars could be taking to the skies sooner than many might imagine as a tech startup racks up more and more reservations.

A $300,000 flying car known as the Model A is in the works at Alef Aeronautics, and the SpaceX-backed Silicon Valley startup said it's gotten over 2,850 preorders.

CEO and cofounder Jim Dukhovny told CNBC on Monday that the potential buyers have all paid the deposit required to secure their reservation. It costs $150 to put your name down, or you can pay $1,500 to be in its priority queue.

Alef in transition flight
A mock-up image of the Model A in flight.Alef Aeronautics

The two-seater is fully electric, with a driving range of 200 miles and a flight range estimated at 110 miles.

The owners of this futuristic vehicle will be able to "drive on the street, take off vertically when needed, and fly overhead above traffic," the company website says.

Alef Aeronautics Model A
Alef Aeronautics is set to begin deliveries in Q4 of 2025.Alef Aeronautics

The Model A became available for preorder in October 2022, and deliveries are set to begin in Q4 of 2025. In July, Alef said it had received $250 million in preorders.

If all 2,850 of those who reserved a Model A follow through, the company is looking at over $850 million in sales. And for those who don't have $300,000 to spend on a flying car right now, Alef said it's working on a $35,000 four-seater sedan — called the Model Z — set to release in 2035.

The Model A was the first flying car to receive approval for test flights from the Federal Aviation Administration in July.

Dukhovny called it "one small step for planes, one giant step for cars."

Read the original article on Business Insider