The Terrafugia Transition 'flying car' will be the first commercially viable flying car. The Federal Aviation Administration (FAA) has given it a special weight exemption which allows it to be classified as a light sport aircraft even though it exceeds 120lb in weight.
Only 20 hours of flight time will be needed to qualify for a license to fly the Terrafugia Transition. This aircraft-car hybrid features electrically powered foldable wings and requires 1,700-foot runway to take off. With a range of over 400 miles in the air and the ability to carry 450lb, the Terrafugia Transition will retail for about $194,000.