The car/plane is just one of several prototypes from the company that hails from Slovakia. While the company's current prototypes are all two-stated vehicles, Vaculik has said that might change. He called the AeroMobile the "first in a series of innovative vehicles".
Not just a big boy's toy, AeroMobil insists that there are practical applications for the vehicle. It could cut commuters travel times, for example, or be used by first responders and law enforcement in areas with poor road infrastructure.
While the company call the AeroMobil a 'car' it's yet to be certified as a road vehicle.
(Source: CEO Middle East YouTube channel)