Rolls-Royce building future-style flying taxi 

Rolls-Royce has confirmed it's working on a flying taxi, which could be set to launch in the early 2020s.

The Back To The Future-style vehicle will be capable of both vertical take-off and landing, bypassing the need for a runway, the Daily Mail reports.

The hybrid flying taxi will transport five passengers at speeds of 250mph (402 km/h) for up to 500 miles (800 km), the company said.

Rolls-Royce believes its upcoming vehicle will fly paying customers over congested roads from early next decade.

The company is entering a crowded market, with dozens of other firms already working on autonomous flying vehicles, including Airbus, ride-hailing company Uber, and a range of new start-ups, including one backed by Google co-founder Larry Page, known as Kitty Hawk.

Rolls-Royce's concept electric vertical take-off and landing (Evtol) vehicle will be displayed at the Farnborough International Airshow in Hampshire this week.

The marquee event for Rolls-Royce will be officially opened by Prime Minister Theresa May later today.

The Rolls-Royce presentation will allow the world-leading engineering company to showcase its aeronautical prowess.

The company already builds engines for aeroplanes, helicopters, and ships.

It claims flying taxis will revolutionise the way people travel.

The concept Rolls-Royce flying vehicle uses its own M250 gas turbine technology to deliver around 500kW to power six electric propulsors specially designed to have a low noise profile.

Since it uses a hybrid design, the vehicle will not need to be recharged.

The wings rotate 90-degrees to enable a vertical take-off and landing.