From the times online…

The Terrafugia Transition is a two-seater plane that at the touch of a button converts into a road-legal car. It takes its maiden flight next month and is scheduled to hit the showrooms by next year. You can’t help but wonder whether, if Bob Nardelli and Rick Wagoner, of Chrysler and General Motors respectively, had been forward-thinking enough to fly into Washington DC in swept-wing Dodge Vipers and Cadillac Escalades instead of corporate jets when they were seeking bailout cash, they would have been showered with government money, downturn or no downturn.

Link to video, check it out

Terrafugia’s Transition will set them back a cool $200,000 (£132,000). “For an airplane, that’s very reasonable, but for a car, that’s very much at the high end,” Dietrich admits. “It’s got to start there. You can’t make a $10,000 flying car yet. This is not going to change overnight and it won’t become a mass-market item any time in the near future. But in the long term we have the potential to make air travel practical for individuals at a price that would meet or beat driving, with huge time savings. And that could be a real game-changer for aviation as well as driving.”

The flying car has been technically possible for years but the legal runway was cleared for take-off only four years ago. The American Federal Aviation Authority created a new category of plane called light sports aircraft. These planes are subject to fewer rules and regulations than traditional passenger aircraft and can be flown by pilots after just 20 hours of training, half the normal American requirement.

Only 200 grand for this thing!!! You can have your Bent, I want one of these