The Terrafugia Transition, a futuristic "flying car" developed by Massachusetts Institute of Technology engineers, could start deliveries by late this year, and the company is already accepting $10,000 deposits against the plane's estimated $194,000 sticker price. The design features folding wings and carbon-fiber construction, and specifications call for a 430-pound payload. The company says flying cars will increase the general aviation market by lowering costs, improving safety in marginal VFR conditions and making GA airports more accessible. Aero-News Network offers video of the concept vehicle, as well as some historical perspective.

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