Flying cars could hit the market in 2024, according to the CEO of a technology company, but there are concerns over regulations to manage new forms of air traffic.
Hugh Martin of Lacuna Technologies, who helped cities develop transportation policies, said there’s a difference between when a car can fly and when it’s safe and reliable to navigate the sky.
“It depends on who you talk to,  It can be a period. He told CNBC’s “Squawk Box Asia” on Tuesday.
Several car companies are developing aircraft. These include Chinese electric car makers Xpeng and Fiat Chrysler.
Some people can afford a flying car, but they pointed out that most people are more likely to drive an electric or self-driving car on the road.
He said vehicles that do not need to be lifted off the ground are safer and can carry more people.
“They think they have what … but the application is moving cargo and packages,” Martin said. “I think it will be a big problem.”
Cities “increasingly concerned” about how to manage flying car traffic in future, Martin added.
The rules should include where vehicles are allowed to take off, land or move, whether they can take off at any time, only within the allotted time, and how far the vehicles must be from each other. I can
He said, ‘It will take a long time to find out.
In the United States, he said, the Federal Aviation Administration and NASA are working with drone and air taxi providers to see what the air traffic of the future will look like.
“Instead of having one airport for each major city, there are now thousands of airports scattered throughout the city,” he said.
— CNBC’s Arjun Kharpal and Michael Welland contributed to this report.