Terrafugia, which means “escape from earth”, might be the very first company to manufacture and sell flying cars.  The company, based in Massachusetts, was founded by graduates of the Department of Aeronautics and Astronautics at MIT.  The car, which they call the Transition, will be available in 2017 and is priced at $279,000.  So far, over 100 people have pre-ordered the car and made a deposit of $10,000.  They are now looking to investors to collect $30 million to begin manufacturing.  The video below shows Transition leaving a suburban home garage, taking off, flying at up to 110 mph, landing, and returning to the garage.


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