Greely, a Chinese corporate behemoth has bought Terrafugia the flying car guys. Greely owns Volvo and Lotus among many familiar brand names. They want to get into the the flying car and driverless car business which they believe could be viable and a reality in the next 25 years.

Terrafugia, which has been around for 11 years with nothing to show for it in terms of no aircraft production and no aircraft ever delivered is damn lucky to be bought out instead of filing Chapter11. Now they can pay back the $10 million in VC money they pissed away on a novelty Jetsons vehicle they actually believed had a viable market....for $278,000 a piece. I certainly took notice that they have not exhibited at Osh for the past 3 years.