The DeLorean DMC-12 is a cult classic and an icon, despite a short life for the car itself. Its appearance in "Back To The Future" cemented its legacy. Unlike the movie car, real DMC-12s couldn't fly despite its gullwing doors. Soon, a DeLorean could take to the sky.

Paul DeLorean, the nephew of John DeLorean, revealed to Digital Trends that his company, DeLorean Aerospace, is preparing its own flying car. Well, it's not really a car since it can't drive on surface roads, but it doesn't look like a regular plane. The DeLorean DR-7 instead takes inspiration from Formula One race cars and is propelled by 360-degree thrust-vectoring electric ducted fans.

According to Paul DeLorean, the vehicle is designed for minimal input from a driver, but a manual mode is present for the “performance flying enthusiast.” The electric-ducted fan units can either let the flying vehicle hover or move it forward at speeds up to 240 mph. An all-electric range of 120 miles is estimated by the company, but final specifications are far from ready.

DeLorean doesn't want this project to simply be a toy for the rich and famous, though. He wants the DR-7 to be affordable. 

“We aren’t targeting only general aviation customers; we see much broader market potential, extending into other transportation segments," he said. "Our target price point will reflect that, ultimately. However, we have not established our launch pricing yet.”

If investments and engineering go according to plan, DeLorean will reveal a prototype next year. After that, it remains to be seen if DeLorean can truly take off this time.