Vnesheconombank, Russia’s government-owned development bank, is set to invest millions of dollars in building the flying HoverBike S3 motorcycle, according to the financial institution’s chairman Sergey Gorkov’s statement made on September 3, 2017.

At this time, HoverBike S3 is undergoing tests, following which the manufacturing company intends to deliver the flying motorcycles to the market. The hoverbike’s inventors have already received orders from companies in Asia and the Middle East. The device, which is a hybrid of a quadcopter and a motorcycle, is expected to cost from USD50 to USD80 thousand, depending on the model.

The flying HoverBike S3 motorcycle is a project developed by a Russian company called Hover Surf. The device uses electric motors, and a fully-charged battery would last for a 30-minute flight at a speed of up to 100 kilometers per hour. The maximum flight altitude is five meters, and the loading capacity is 150 kilograms.

Alexander Atamanov, the CEO of Hover Surf, indicated that the Russian Defense Ministry, Sberbank, as well as Rosneft, expressed interest in the project. The company anticipates marketing its first hoverbikes by the end of 2017.