[PHOTOS + VIDEO] Hoverbike Invented in Australia Can Go 175 Mile per Hour

Australian Chris Malloy has invented a hoverbike that can go up to 175 miles per hour and fly as high as 10,000 feet.

The hoverbike weighs about 240 pounds and runs on 21.8 miles per gallon. One full tank of gas in this vehicle can take you 92 miles.

When the safety tests on the hoverbike are completed, Malloy plans to sell them at $40,000 a piece.

Malloy and his partners are currently trying to raise 1.1 million Australian dollars to push the project to the next level.