An interesting new flying car is being launched this week at Oshkosh. The Transition is a Personal Air Vehicle (PAV) designed to make general aviation more practical for personal transportation. From start-up company Terrafugi, the Transition drives like a car on public roads and can transition into an aircraft at the nearest airport by lowering its 27-foot wings and taking off. As an aircraft it has a top speed of 130mph, a range of 500 miles and can carry a payload of 430 pounds. One stop gives you over a thousand miles of range inside eight hours. Then you land and fold up the wings and you’re back on the road. As Terrafugia Chief Operating Officer Anna Mracek explains, deposits are being taken at Oshkosh, “our anticipated purchase price is $148k, and a deposit of 5% of that anticipated price will secure your place in line, but not guarantee that exact price.” The Transition delivers 30 mpg in either car or plane mode and promises a true integrated roadable aircraft at an economically compelling price. A prototype is being constructed and deliveries will start in 2009. The Transition will be capable of driving at normal highway speeds, flying at speeds that approach the light sport aircraft limit, and park in a standard garage. The CEO and CTO of Terrafugia is Carl Dietrich – note that name as he’s been incredibly impressive in everything he’s ever attempted and this is an ambitious play. Carl will receive his PhD from MIT in Aeronautics and Astronautics this year. Carl received both his SB and SM degrees from the same department, winning all four out of four design competitions available to him then the golden globe for entrepreneurs, the prestigious $30,000 Lemelson-MIT Student Prize which annually recognizes one student for outstanding innovations.