The flying car — dubbed the Transition — was developed by Terrafugia Inc., a Woburn, Mass-based company. The vehicle has two seats, four wheels and wings that fold up so it can be driven like a car. It can reach around 70 miles per hour on the road and 115 in the air, using a 23-gallon tank of gas that burns 5 gallons per hour in the air, and gets around 35 miles per gallon on the ground. During the test flight on March 23, 2012, it flew for eight minutes at 1,400 feet.
According to reports, 100 people have already deposited $10,000 down on the first flying car.
MSRP $279,000
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