CEO's nowadays always make it sound like their visions are brand new, that no one's ever tried to invent this stuff before. But c'mon, if the VTOL car was even a remote possibility, it already would have been invented. But there's already a rich history of people who have tried, and either failed in inventing it, or succeeded but failed with commercializing it, both fixed-wing car varieties and VTOL varieties.
There's too many challenges:
1) Safety -- If a car breaks down / runs out of fuel while in use, it rolls to a stop. If a flying object breaks down / runs out of fuel in use, it crashes.
2) Price -- To reduce risk associated with problem #1, you can't cut corners or make things cheaply.
3) Lack of Infrastructure -- Cars, airplanes, and helicopters all have governed mediums by which and through which they can travel. A flying car does not. Nor will it fit perfectly within any of the existing mediums reserved for the existing vehicles.
4) Fuel consumption -- VTOL consumes a considerable amount of fuel for takeoff and landing.
5) Inefficiency with Tilt-Rotors -- Most current engineered VTOL aircraft use tilt-rotor systems (like the V22 Osprey. They work for VTOL, but inefficiently, as explained here, and their nature limits where they can take off and land.
Some engineers, like the makers of the Elytron, have come up with some neat hybrid fixed-wing/rotor solutions, but these aren't solutions that can be commercialized easily into flying cars like suggested in this article.
Personally, I'm getting pretty tired of "Backseat Visionaries" who tell everyone what the future is supposed to look like but don't do their part in driving us there.