Alef Aeronautics, a Silicon Valley business sponsored by SpaceX and Tim Draper, who has also invested in Elon Musk’s SpaceX and Tesla, is currently developing a $300,000 flying automobile known as the Model A. According to Business Insider, the company has already received more than 2,850 preorders for the futuristic car.

Alef Aeronautics, a San Mateo, California-based company, has reported an increase in ordering numbers for the Alef Model A, a two-seater flying car. According to CNBC, the firm announced a new milestone, surpassing its previous record of 2,500 preorders.

A $150 down payment is required for the Model A in order for clients to access online preorders. Clients are not obligated to make the purchase because they can remove their deposit at any moment.

The model is expected to cost $300,000 when it goes on sale. This is an interesting automobile. With 2,850 preorders already placed, the total order value currently surpasses $850 million.

Alef’s CEO, Jim Dukhovny, stated, “As of today, we have a little over 2,850 preorders with deposits down, which makes it the bestselling aircraft in history—more than the combined amount of eVTOLs [electric vertical takeoff and landing vehicles], Boeing, Airbus, and Joby Aviation combined.”

Alef is one of several businesses attempting to enter the flying car market, including the German air taxi startup Lilium and the American company Joby Aviation. In an interview with CNBC last year, SK Telecom, a South Korean business, stated that it would be partnering with Joby Aviation to introduce a flying taxi service in 2025.

Alef is requesting an upfront payment from prospective buyers due to the Model A’s exorbitant $300,000 price tag. Given Alef’s status as a startup that has not yet produced a significant amount of income, Dukhovny is persuaded that the higher price point is essential.

In an interview with Bloomberg in 2017, Musk discussed the subject and stated, “If somebody doesn’t maintain their flying car, it could drop a hubcap and guillotine you.” He added, “Your anxiety level will not decrease as a result of things that weigh a lot buzzing around your head.”