Great news out of Japan, where a million adolescent boy dreams have finally come to fruition:

A Japanese start-up is hoping to convince motorists to swap their cars for a $680,000 (£495,000) hoverbike.

ALI Technologies' XTurismo Limited Edition went on sale in Japan, earlier on Wednesday.

Electronics giant Mitsubishi and footballer Keisuke Honda are two backers of the Tokyo-based company.

ALI Technologies says the hoverbike can fly for 40 minutes at up to 100km/h (62mph) on a single charge.

Whew... 62mph for $680,000? So you're dropping about $11,000 for every mile per hour you can get on one of those things.

I feel like you should be getting a little more bang for your buck, you know?

I mean nothing crazy, but...

I think I'll wait until they go on sale at Walmart, thank you.

Of course, there's already a bit of competition in the space. Check out this amazing video of Jetson's hovercraft prototype: