GM's vice president of global design, Michael Simcoe, said the car manufacturer is "preparing for a world where advances in electrics and autonomous technology make personal air travel possible."

Simcoe said the VTOL concept is GM's "first foray into aerial mobility." He added that other versions of the VTOL concept are in development, including air taxi prototypes.

The company provided no further information if there was a working VTOL or if testing has been conducted. 

GM appears to be targeting the ultra-rich as they will be able to use these aircraft, sometime in this decade, to avoid traffic on the ground by flying from rooftop to rooftop. 

"It's a concept for a moment when time is of essence and convenience is everything," Simcoe added.

He also unveiled a new electric vehicle described as a "mobile living room" designed for comfort.

Flying drones and robotaxis will absolutely disrupt the transportation of goods and people in the near term as this technology is being rushed into use. 

Flying drones will be in the skies much quicker than anyone is anticipating...