Geely Reportedly Buys Flying Car Company Terrafugia

There’s been renewed interest in flying cars thanks to several big names, such as Uber and Airbus, throwing their hat into the ring. Automakers have been surprisingly absent but that’s changing as Geely has reportedly purchased Terrafugia.

Little is known about the transaction but The Detroit Bureau points out Terrafugia is one of the leaders in the industry and has already logged countless hours in Transition prototypes.

The Transition is billed as the “world’s first practical flying car” as it is designed to “fly like a typical light sport aircraft in the air and drive like a typical car on the ground.” The two-seat flying car runs on premium unleaded gasoline and has been designed to fit in a standard single-car garage. In order to accomplish the latter task, the Transition’s wings automatically retract and deploy in under a minute.

The company is also working on a more advanced TF-X which a hybrid four-seater that automatically flies itself and can take-off and land vertically.

Geely’s plan for Terrafugia remains a mystery at the moment but the company’s funding could be a real game changer.