While electric cars and autonomous driving systems are revolutionizing the auto industry, some companies are looking even further ahead and envisioning a world with flying cars filling the skies. Audi, for example, teamed up with Airbus and Italdesign to present the flying Pop.Up.Next, a pod-style taxi that could be picked up by an autonomous air drone and fly passengers to their destination. Toyota, meanwhile, is developing a flying car to light the Olympic torch, Uber wants to trial a flying taxi service, and Samson Sky is already accepting orders for its Switchblade flying sports car.

While none of these projects have taken off the ground yet due to legislation, Porsche has announced it's teaming up with Boeing to build an electric flying car concept. This shouldn't come as a surprise, because Porsche sales boss Detlev von Platen said last year it would "make sense" for the automaker to develop a flying taxi.

Details about the collaborative project are scarce, but Porsche says the partnership will allow both companies to "leverage their unique market strengths and insights to study the future of premium urban air mobility vehicles."

"Porsche is looking to enhance its scope as a sports car manufacturer by becoming a leading brand for premium mobility. In the longer term, this could mean moving into the third dimension of travel," said Detlev von Platen, Member of the Executive Board for Sales and Marketing at Porsche AG. "We are combining the strengths of two leading global companies to address a potential key market segment of the future."

A couple of render images released by Porsche shows the flying car concept has a sleek design with short wings and wraparound windows. It looks like the Porsche 911 of aircraft.

As part of the partnership, an international team is being created "to address various aspects of urban air mobility, including analysis of the market potential for premium vehicles and possible use cases." The concept is being described as a "fully electric vertical takeoff and landing vehicle," and a prototype will be built and tested by engineers from both companies.

"This collaboration builds on our efforts to develop a safe and efficient new mobility ecosystem, and provides an opportunity to investigate the development of a premium urban air mobility vehicle with a leading automotive brand," said Steve Nordlund, Boeing NeXt Vice President and General Manager. "Porsche and Boeing together bring precision engineering, style and innovation to accelerate urban air mobility worldwide."

Porsche hasn't announced when the flying car concept will be unveiled, but believes the urban air mobility market will pick up speed after 2025.