Airbus this week unveiled to the public the Racer, its new one-off demonstrator aircraft that’s half helicopter, half plane and built to fly fast.

According to Reuters, Airbus this week gathered a crowd of industry executives, politicians and European Union representatives at its base in France to show off the Racer, its $217 million successor to the X3, which debuted in 2010. The company said the Racer is capable of a cruising speed of about 250 miles per hour, nearly 100 miles per hour faster than a traditional helicopter.

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