Flying car, the world’s first road-registered, air-worthy could be on the highways and in the skies by 2011, if U.S. company Terrafugia has its way. The new vehicle is called Transition Roadable Aircraft.

The model is still going through testing and approval processes but it really does fly and drive. The concepts are folding wings that tuck in neatly beside the cockpit for road use. They are deployed and folded from the convenience of the cockpit. The plane to car transition is stated to take less than 30 seconds. There is a safety cage, crumple zone, side impact protection and can also have a full vehicle parachute but not recommended for use on the freeway.

The ultimate in modern travel, the vehicle would allow the driver and the passenger to drive to the airport, hit the runway after deploying the wings, fly to their chosen destination.

Terrafugia also note that while other personal aircrafts become grounded in bad weather, the Transition will shrug off the stormy skies and simply take to the road. Transition can also be easily stowed away in an average garage so there is no need for a hanger.

As it is a light sport aircraft, the Transition only requires a pilot license in the U.S. The flying car will be officially launched in 2011 and would cost $195,000.