A MIT engineering student Carl Dietrich started the company Terrafugia to continue the development and marketing of the “roadable aircraft”, as Dietrich likes to call it.

This gadget is wonderful indeed! It is designed for jumps of 100 to 500 miles. It will carry two people and luggage on a single tank of premium unleaded gas. It will also come with an electric calculator (to help fine-tune weight distribution), airbags, aerodynamic bumpers and, of course, a navigation unit with a global positioning system.

….The developer of the car came up with the idea while a student at MIT’s Department of Aeronautics and Astronautics. Earlier this year he won the Lemelson-MIT Student Prize, which recognizes invention and innovation. He also holds a patent for the centrifugal direct injection engine, a low-cost, high-performance rocket propulsion engine. Dietrich conducted his rocket engine research as an undergraduate at MIT.

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