Classified as a light sport aircraft, this is cool. Well, if you like to fly, have $195,000 laying around, and have an empty spot in your garage. Will it be the future in transportation? Probably not. But still one of those fun ideas and products.

Although it does have some features similar to a car, the company makes clear that it is plane you can drive and not a car you can fly. Terrafugia calls its vehicle the Transition.

The Transition's power comes from a Rotax 912S four-cylinder engine, and Terrafugia says the Transition will do 80 mph on the ground and 115 in the air. It runs on regular unleaded gas, and with a range of 460 miles, delivers 30 mpg in the air. Tool around town and you'll get 27 mpg — roughly what a Honda Civic gets in city traffic.

Full Article From Wired
http://blog.wired.com/cars/2009/04/its-not-a-flyin.html