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Flying-Car Creator: This is Very Real'

Carl Dietrich, the co-founder and CEO/CTO of Woburn-Mass.-based Terrafugia, undoubtedly has encountered plenty of skepticism in his quest to commercialize a flying car.

But Dietrich, in a segment on CNBC’s “Squawk on the Street,” insisted that his company’s flying car -- the Transition -- “is very real.”

“People have tried this in the past, but nobody’s made a vehicle like this that can literally convert from plane to car faster than you can call a cab,” the MIT grad told CNBC’s Phil LeBeau.

Dietrich noted that the Transition “is an airplane that has the added capability of folding up its wings, driving down the road and parking in a single-car garage.”

“It runs on super unleaded gasoline just like your car,” he added.

Terrafugia already has received 100 orders for its Transition flying car, which sells for $279,000.

Here's the CNBC segment featuring Dietrich:


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