Volvo Flying Car Release Date News: Parent Company Geely Buys Start-Up Terrafugia
Could Volvo follow the footsteps of Toyota and be the next automaker to develop its own flying car?
According to the South China Morning Post, Volvo's parent company, Geely, a Chinese automotive manufacturing company based in Zhejiang, has decided to purchase Terrafugia. The latter is a U.S.-based start-up company known for its development of flying cars.
While both Geely and Terrafugia have yet to officially comment on the news, a source told the publication that Geely's acquisition of Terrafugia has been in motion since last year. It was also noted that the purchase amount has not been disclosed.
Get Our Latest News for FREE
While flying cars won't likely be available for consumers in the near future, Terrafugia is considered to be at the forefront of this endeavor. The start-up was founded in 2006 by five Massachusetts Institute of Technology graduates.
The company's first flying car, the Transition, is said to drive at highway speeds while on the ground. On the other hand, while in the air, the flying car is said to have a cruising range of 400 miles and a top speed of 100 miles per hour (mph). Prospective customers can reserve a unit for $10,000 and first deliveries are expected to begin sometime in 2019.
Terrafugia is also working on the TF-X, an all-electric mass-market flying car with vertical takeoff and landing (VTOL) as well as autonomous flying capabilities. A prototype of the vehicle is in development.
Currently, most of the focus is on the autonomous vehicle race. However, there are already a select few who see the potential of developing flying cars. Back in March, Audi's Italdesign partnered with Airbus to create a flying car concept called the Pop.Up. Meanwhile, Toyota made headlines in May when the Japanese automaker was revealed to have invested in Cartivator, a flying car project that is being developed by a group of employees.
At this time, the effect of Geely's acquisition of Terrafugia on Volvo is unknown. However, with the Swedish automaker's recent push to go all-electric by 2019, it may not be that far-fetched to envision a future with Volvo-badged flying cars.
