Company Unveils Flying Car Prototype

PHILADELPHIA (CBS) -- The long-rumored flying car project is ready for takeoff.

Start-up company Kitty Hawk unveiled its prototype for an ultra-light aircraft that can takeoff over open water.

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It has received approval from the FAA to fly over uncongested areas.

The Kitty Hawk is expected to go on sale at the end of the year.

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There is no price tag for the flying car as of yet.