A surprising number of small companies around the world are vying to be the first to bring flying cars to customers, and many are predicting that 2017 will be a turning point for the industry.
Terrafugia, AeroMobil, Moller International and PAL-V are just a few of the companies that are planning to produce, sell and deliver their vehicles within the next few years.
Terrafugia, an American firm founded by MIT grads, expects to start production of its “Transition” flying car in 2017. It’s already accepted deposits from roughly 100 customers.
Aside from regulatory and safety concerns, a lack of funding can also seriously hamper progress, or stop it altogether.
AeroMobil recently accepted a €2.5 million ($2.8 million) investment from a venture capital firm, after being financed entirely by its CEO and co-founder Juraj Vaculik. Executives at the firm expect to sign up further investors in the immediate future, despite the recent crash.
Paul Moller, the founder of Moller International, said he’s spent roughly $200 million since the 1970s developing his flying vehicles. He expects he could always find more money.
“There’s a lot of money in this country. What you have to do is prove to people you have a product that has a future,” he told CNNMoney.
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