The dream of owing a flying car will finally become a reality by the next year (2012). US company Terrafugia will start the manufacturing flying cars called “Transition Roadable Sport Aircraft”, which can be transferable from car to plane in just 30 seconds.

This car can fly at 115 mph and reach 65 mph on the road. On the ground its wings are tucked in and can fill up with petrol at a normal filling station. It also fits in an average size garage. It is set to go into production this year and is expected to cost between £125,000 and £160,000 excluding the shipping costs.

The manufacturer of this vehicle hopes to sell at least 200 a year. This is primarily an airplane. The idea is you can drive it to and from a regulation airport. On fueling it to the maximum, you can fly it for a range of 400 to 450 miles. There are still some minor changes that need to be made because it has to meet both road and aviation standards.