Development and listing time of Geely Terrafugia flying car
Geely's Terrafugia is clearly the closest of the many flying carmakers in question to China, but initially it was not a Chinese company. Terrafugia was first founded in 2006 by five MIT graduates whose team and business plan won the runner-up to the 2006 MIT $100,000 entrepreneurship contest, and most of the initial funding for the company came from CEO and founder Carl Dietrich. The $30 thousand Massachusetts Institute of Technology (Lemelson-MIT) student award.
Under the leadership of Carl Dietrich, Terrafugia made a number of financing, the first nearly $300,000 financing completed shortly after the company was established in 2006, and then followed up with more than 100 shareholders. In less than five years or so, Terrafugia has amazingly earned more than $25 million in potential revenue in this relatively skewed field.
But Terrafugia is sold only in the U.S. because of different laws and regulations, which makes the original narrow market smaller, and the automobile industry itself is a capital-intensive industry, R&D, manufacturing, production regardless of which link needs a lot of financial support, but there is no good sales and market returns. Business will be in a vicious circle. Sure enough, due to the company's capital bottleneck, on November 13, 2017, Zhejiang Geely Holding Group officially announced a final agreement with Terrafugia Flying Automobile Company, the United States, will buy all Terrafugia business and assets, in the future Geely will dominate the management of enterprise development.
So what is the flying car of Terrafugia, which is heavily purchased by Geely? The Transition can travel on land or in the air, and its wings fold when landing, allowing it to park in the garage. It uses a hybrid system with two passengers, a maximum speed of 160 km / h, a maximum altitude of 10,000 feet (3048 meters) and an air range of 640 km. To save fuel, the Transition will be powered by electricity on land.
As a unique vehicle, Transition is built strictly to meet the dual safety requirements of aviation and automobiles, and meets the standards of the Federal Aviation Administration (FAA) and the National Highway Traffic Safety Administration (NHTSA). At the same time, because of its particularity, in order to drive it on the road or above, not only need a car license, but also need to have a flight license. This means that driving Transition is definitely only a minority patent.
Geely recently announced that Taili Flight is expected to start reserving its first-generation Transition in October for about $190,000, mainly for the U.S. market, with the first mass-produced vehicles due out in 2019.（文来源：飞翔汽车feiauto）www.otoche.com