For the past decade I’ve wanted nothing more than a hoverboard. I didn’t even care if it was pink and made by Mattel. Who cares, it hovers! But things have changed.

An Australian inventor has apparently developed a “Hoverbike” that could allegedly hover more than 10,000 feet off the ground.

Australian inventor Chris Malloy, who has been building the futuristic flying contraption for the past two-and-a-half years, in his garage, during off-hours, says he’s just a year away from launching the first consumer model.

The Hoverbike is essentially part motorcycle and part helicopter. It contains a 1170cc 4-stroke engine that can deliver 650-pounds of upward thrust via two ducted propellers in the front and back of the seating area. Its frame is made out of carbon fiber frame and weights in at 231 pounds.

Although Malloy has yet to fly it, Malloy estimates that the Hoverbike is capable of achieving trouser-soiling altitudes of 10,000 feet or more, and reaching speeds of 150 knots, or about 173 MPH.

And at $40,000, it won’t be cheap, better start saving now.

Source: hoverbike