Flying car in the making

The future is now: Terrafugia Transition 'flying car' gets go-ahead from US air authorities:

The Terrafugia Transition, a light aircraft that can convert into a road-legal automobile, is to go into production after being given a special weight exemption by the US Federal Aviation Administration.

The two-seater Transition can use its front-wheel drive on roads at ordinary highway speeds, with wings folded, at a respectable 30 miles per gallon. Once it has arrived at a suitable take-off spot - an airport, or adequately sized piece of flat private land - it can fold down the wings, engage its rear-facing propellor, and take off. The folding wings are electrically powered.

Its cruising speed in the air is 115mph, it has a range of 460 miles, and it can carry 450lb. It requires a 1,700-foot (one-third of a mile) runway to take off and can fit in a standard garage.