Some former MIT students founded Terrafugia. The company is developing the Transition – a roadable Light-Sport Aircraft that will be able to land at the airport, fold up its wings, and drive on the road.
credit: Benjamin Schweighart
According to reports of the Technology Review the prototype should be completed in 2008. So let’s see if the next year will make the good old fiction of the flying Delorean in “Back to the Future” come true. Nevertheless it won’t become a time machine soon 
credit: Wikipedia
