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Scheduled to ship in late 2009, the Terrafugia Transition is one step closer to realizing the flying car. The Transition is being designed to be a factory certified Light Sport Aircraft (LSA) that just happens to be street legal.

To qualify as "light sport," the Transition will have to weigh around 1,300 pounds. That's 500 pounds less than a Smart car, but the Transition will be as long as a Suburban and, in places, just as tall.

The first flight test of a fully functional proof-of-concept vehicle is scheduled for next month, over 40 customers have already put down a deposit with the anticipated purchase price of $194,000. Popsci caught up with Terrafugia co-founder Carl Dietrich, 31 to get the story on the roll out.

Via Popsci