A group of MIT graduate student/wonks are saying they could have a flying car on the market within three years. Jalopnik relays the story of start-up called Terrafugia which has released some fascinating artwork of an SUV that flies. The Transition Personal Air Vehicle will allegedly be a car/aircraft designed for 100-to 500-mile jaunts, and when the flying is all done the wings will fold up so the car can be driven on highways and byways. Then, it can fill up with gas at a regular old gas station, albeit using premium fuel only. We're told a working prototype is forthcoming by 2008, and the boys are working on a scale model to be shown at the EAA AirVenture Conference in Oshkosh, Wisconsin this summer. Make no little plans.
Tech Start-up Planning Flying Car [Jalopnik]