Popular Mechanics reported Tuesday, that the Russian arms manufacturer, Kalashnikov, which made the famed AK-47 rifle is embarking on a new project -- designing hoverbikes. The concept is similar to many existing hovercraft and flying car concepts -- it is battery operated and stays in the air using 16 sets of rotors. The vehicle, which hasn't been named yet, was showcased at Russian defense giant Rostec's headquarters on Tuesday. While the company has ventured into aviation with this latest effort, it will continue to make weapons and artillery, including the AK-47. The company has been recently diversifying and is actually combining its weapons capabilities with self-navigating vehicles.