MIT spinout flying car company Terrafugia bought by Geely is well funded to sell flying cars starting in 2019

Zhejiang Geely Holding Group bought flying car company Terrafugia in 2017 and they are planning to bring commercially sell the first flying car in 2019, in the United States. Geely is also the parent company of Volvo.

They will bring the roadable plane that they have been flying for several years to market.

There are many companies trying to commercialize flying cars. Airbus and Uber are trying to make ride-sharing flying cars or flying taxis.

Geely plans to follow this up with the world’s first vertical take-off and landing aircraft (VTOL), like the TF-X prototype pictured above, by 2023.

Boston-based Terrafugia was founded by five MIT graduates in 2006 and is a world-leader in flying-car technology.

Gleely’s first model will be a plug-in hybrid vehicle with a range of 800 kilometers, with a two-seater cabin and folding wings, so that it can fit in a typical car lane. It is expected to cost $279 000 (about R3.3-million).

There are also expanded drone technologies that being made into flying cars. Drone company eHang has made a flying taxi which has been in operation in Dubai.