'The Transition' - Flying Car

Terrafugia a small, privately held company has recently gained FAA approval for its roadable aircraft (i.e., flying car), and new improvements to the vehicle's design bring it only about a year away from being available to customers, according to Forbes and MSNBC.
Named "The Transition," Terrafugia's flying car takes the notion of driving a hybrid to a whole new level. The latest model features a more car-like look, with traditional headlights and even a license plate holder. Other new fixtures include an improved wing that folds up with a touch of a switch, like in a convertible car, rear-wheel drive with a continuously variable transmission, independent suspension and even a futuristic touch screen interface in the cockpit.
On ground the vehicle folds its wings up to achieve legal street-ready dimensions. The concept is for users to be able to drive it from their own garage to a nearby airport, allowing for independent, convenient travel. At the very least, it would help drivers bypass those annoying airport wait times.
The flying car will be an expensive proposition.Estimated price for a first-generation Transition is slated at around $194,000. Though that's out of the price range for the average consumer, it's at least an important first step toward bringing childhood fantasies of driving a flying car closer to reality.
The launch date will be in late 2011.
Source - Forbes
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