Russia’s AvtoVAZ to Make Flying Car

Russia’s biggest auto manufacturer AvtoVAZ and the state tech corporation Rostec plan to build flying vehicles, according to AvtoVAZ boss Nicolas Moore. The “promising project” could come to fruition within a couple of decades, he said, RT reported on Tuesday. “We have an excellent opportunity to produce such cars. As Rostec is among our shareholders, we may see a future potential for the project. We could consider such an enterprise together with Rostec, but it will happen not earlier than 20 years,” Moore said in an interview. The car market is currently recovering, but it is too early to speak about growth. “The second half of the year is expected to show significant economic growth. We are optimistic at least about the short-term outlook,” he said citing unnamed government officials he talked to at the St. Petersburg International Economic Forum (SPIEF) last week. Earlier this year, Japanese automaker Toyota unveiled plans for a similar project. The company said it was investing $353 million to create a flying vehicle.