Several news outlets are reporting that the flying car company, Terrafugia, is in the process of being purchased by Zhejiang Geely Holding Group. Geely is a China-based automotive manufacturing company with a portfolio that includes brands like Volvo and Lotus. A lot is still unknown about the deal, including what a car maker plans to do with a product that is, at least from a regulatory and operational standpoint, an airplane that can drive on the road.
Of the multiple flying car models currently under development, Terrafugia’s Transition is probably the closest to FAA approval, having received LSA certification exemptions for increased weight and stall speed in June of 2016. The Transition prototype has logged more than 100 flight hours and the company has previously said that it plans on beginning deliveries in 2019. Terrafugia has yet to comment on the sale.
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