The United States Federal Aviation Administration (FAA) has approved the classification of a vehicle aiming to be the first flying car.

The Terrafugia Transition (proof of concept pictured) has been classified as a Light Sport Aircraft even if it is 120 pounds heavier than that class. It is a two-seater that has a pusher propeller, twin tail and folding wings (so that it can fit in your standard home garage).

While on land, it can run of up to 65 miles/hr (105 km/hr) which will enable it to keep up with traffic. When airborne, the craft will have a cruising speed of up to 115 miles/hr (185 km/hr).

Manufacturer Terrafugia is insisting that the vehicle is not a “flying car”. They would like to describe it as “roadable aircraft”.

The approval from the FAA will pave the way for its mass production.

Anyone who plans to buy a unit will have to shell out 10,000 USD as deposit. The final price ranges between 194,000 to 195,500 USD.