The Terrafugia flying car, created a decade ago by a handful of MIT grads, just made another huge leap toward becoming an actual product thanks to its new owner. The South China News reported that Geely, the company that also owns Volvo, agreed to acquire Terrafugia. Reports indicate Geely was particularly interested in the Terrafugia’s FAA approval last year allowing the transforming car to be certified as a light sport aircraft. The exemption means Terrafugia can create a road- and air-legal vehicle that weighs up to 1,800 pounds.
Is a Winged Volvo in Our Future?
Key Takeaways:
- Terrafugia, the developer of a flying car, was acquired by Chinese automaker Geely, which also owns Volvo.
- A significant factor in the acquisition was Terrafugia's recent FAA approval to certify its transforming vehicle as a light sport aircraft, permitting a road- and air-legal design up to 1,800 pounds.
- Terrafugia has developed models like the Transition, featuring folding wings to fit in a standard garage, and the more futuristic TFX, which incorporates hybrid propulsion and ducted fans for vertical lift.
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