Flying cars could be commercially available in 2024: Tech firm CEO
Flying cars could be commercially available in 2024, but regulations for managing the new form of air traffic will be a concern, according to the chief executive officer of a tech company.
Hugh Martin from Lacuna Technologies said that while cars are allowed to fly, there will still be a time when they can safely and reliably navigate the airways.
“Depending on who you talk to, I think  could be a time period,” he told CNBC’s “Squawk Box Asia” on Tuesday.
Many auto manufacturers have developed aerial vehicles. They include Chinese electric car maker Xpeng and Fiat Chrysler.
He pointed out that while some people may be able afford to fly, most others will still drive electric cars or self-driving vehicles.
He said that vehicles that can lift off the ground are safer and more capable of carrying people.
“Where I think they do have … an application though, is carrying the freight and packages,” Martin said. I think it’s going be very important.
Cities are getting “increasingly concerned” about how to manage traffic for flying cars in future, Martin added.
These rules might include the location where they are allowed to fly, as well as whether or not they have to land at specific hours.
He said that it would take some time for all of this to be figured out.
According to him, the Federal Aviation Administration in the United States and NASA work with air taxi companies and drone operators to plan for the future of air traffic.
“Instead of having one airport per major city, you’ve … now got thousands of airports scattered around the city,” he added.
— CNBC’s Arjun Kharpal and Michael Wayland contributed to this report.