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, a flying car company founded by MIT grads, was acquired by Geely (owner of Volvo), signaling a major step towards making their product a reality.
- Geely's interest was largely due to Terrafugia's FAA approval, which certified its transforming car as a light sport aircraft with an increased weight allowance.
- Terrafugia is developing two models: the Transition, with folding wings for garage storage, and the more futuristic TFX, which features hybrid propulsion and vertical lift capabilities.
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