Terrafugia Unveils Updated Flying Car

The Terrafugia Transition is the closest anyone has gotten to a mass-production flying car. (Terrafugia)

The Transition combines the unique convenience of being able to fold its wings with the ability to drive on any surface road in a modern personal airplane platform. (Terrafugia)

With the wings folded up, it can travel at 65 mph. (Terrafugia)

Becoming a pilot takes as little as 20 hours of flight time, the company claims.  (Terrafugia)

The car is supposed to fly 450 miles at a speed of 115 mph. (Terrafugia)

The price is $194,000 with a $10,000 deposit held in escrow. First deliveries are expected in the fourth quarter of 2011.

The flying car had its first test flight last year with a concept model and has received a unique exemption from the FAA allowing production models to be 110 pounds heavier than a normal "light sport aircraft." (Terrafugia)

The Transition uses high-octane unleaded auto gas. (Terrafugia)