Terrafugia

Terrafugia has completed flight testing of the Transition POC (Proof of Concept). Introducing the Transition®. Simply land at the airport, fold your wings up and drive home. Fly a distance of 725 kilometers at speeds of 115 km/hour; requires a special license to drive and fly. The time required for the transition from plane to car takes less than 30 seconds.  Vehicle speed 185 km/hour, range is 724 km on highways Vehicle is fueled with gasoline, and the price of the car is expected  to be around $200,000. The first shipment will be in 2011 [source internet mail]