Terrafugia has cleared a major FAA hurdle to producing its $194K Transition car-plane by 2011 to over 70 waiting customers. Transition is being marketed as the next “wow” vehicle to private pilots who want a plane without the added cost of storing it at a hangar and having to find ground transportation on both ends of a trip.
Background
Terrafugia is based in Woburn, MA, founded in 2006 by 5 MIT grad students
Terrafugia is Latin for “escape from the land”