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Terrafugia Inc., the Woburn-based developer of the Transition Roadable Aircraft, is moving its “flying car” into low-volume production at a 19,000 square-foot facility in Woburn, with plans to begin late next year.
The Woburn-based company has two prototypes under construction – one for use in drive testing and one for Light Sport Aircraft certification flight testing. In a news release today, Terrafugia noted that the building of the two prototypes will play into determining the price of the flying car, which the company said is expected to cost between $200,000 and $250,000.
Company officials plan to add another 50 manufacturing jobs at the Woburn facility.
Terrafugia is founded by five pilots who graduated from MIT. Chief operating officer Anna Mracek Dietrich was named a Mass High Tech Woman to Watch in 2009.
The company raised $2 million in a Series B round of financing announced in May. In February, Terrafugia CEO Carl Dietrich said he was considering whether to accept an offer of $4.4 million to move into a facility in Dayton, Ohio.
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