Flying Cars, Jet Packs, and the Very Speedy Future of Personal Transit

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Terrafugia Flying Car

Terrafugia, a Woburn, Massachusetts-based start-up, announced earlier this week that that its prototype flying car has completed its first flight—exciting news for the 100 people who've put down a $10,000 deposit. "We look forward to continuing to show that the challenges of bringing a practical street-legal airplane to market can be overcome...We are on our way up—literally and figuratively!" said Terrafugia co-founder Carl Dietrich in a statement. The vehicle, christened "Transition," has two seats, four wheels, and folding wings. It's flown at 1,400 feet at about 115 mph. On the ground, it can reach 70 mph at about 35 miles per gallon. The price tag? About $240,000.