Meet George Jetson: Terrafugia yesterday announced that its prototype flying car has completed its first flight, bringing the company, based in Woburn, Mass., closer to its goal of selling the flying car within the next year. The vehicle—dubbed the Transition—has two seats, four wheels, and wings that fold up so it can be driven like a car. Last month, it flew at 1,400 feet for eight minutes (to put things in perspective, commercial jets fly at 35,000 feet).
Around 100 people have already put down a $10,000 deposit to get a Transition when they go on sale, and those numbers will likely rise after Terrafugia introduces the Transition to the public later this week at the New York Auto Show. Terrafugia says an owner would need to pass a test and complete 20 hours of flying time to be able to fly the Transition, which can reach around 70mph on the road and 115mph in the air. But don't expect it to show up in too many driveways. It's expected to cost $279,000. And it won't help if you're stuck in traffic: The car needs a runway. (Read more flying car stories.)