Terrafugia has flown their “roadable” aircraft on March 5th, 2009. Not really a flying car, it is not design to replace the car, but rather to expand the uses of an airplane. The Transition is expected to cost about $190,000 and be available in 2011.. $10,000 fully refundable deposits are being accepted now and a line is forming..

The wings are folded and unfolded electricly and the plane must be on the ground with the engine off to operate the folding motors. The plane is powered by an automotive engine that runs on premium gasoline and features dual controls to allow standard controls for driving and standard controls for flying.

Check out their website at http://www.terrafugia.com/

Short video of Sam landing his Sonnex at Elkhart.