Terrafugia, seeking $30M in funding, plans to have first flying cars ready in two years

flyThe idea of a flying car might seem like something out of a science fiction novel, but it may soon become a reality.

All it’ll take is about $30 million in funding and some patience.

Terrafugia, a Woburn manufacturer of flying cars has been working on its vehicles for almost eight years.

The MIT-born company has been working on two kinds of cars: the Transition, which is scheduled to be released in mid-2016 and can fly at speeds of up to 100 miles per hour at up to 10,000 feet in the air; and the TF-X, a semi-autonomous plug-in hybrid vehicle which is currently in conceptual design phase and can take off and land vertically and can fly at speeds of up to 200 miles per hour.

The TF-X does not have a price tag yet and will take about 8 to 12 years before it’s a reality.  More

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