The PAL-V One has successfully completed a test flight/drive thing. (See above video) From the press release:
A PAL-V offers the choice of flying like a plane or driving like a car. This means fast door-to-door mobility for private individuals as well as professionals and organizations. The flying range will be between 350 (220 miles) and 500 km (315 miles), depending on the type, pay load and wind conditions. Driving, a PAL-V will have a range of about 1200 km (750 miles). It runs on gasoline like a conventional car and there will also be versions that use biodiesel or bio-ethanol. It can reach speeds of up to 180 km/h (110 miles/h) both on land and in the air.On the ground the slim, aerodynamic, 3-wheeled vehicle combines the comfort of a car with the agility of a motorcycle thanks to its patented, cutting-edge, ‘tilting’ system. Driving, a PAL-V accelerates like a sports car and drives through curves like a motorcycle.Flying, a PAL-V is like a standard gyrocopter. It is quieter than helicopters due to the slower rotation of the main rotor. It takes off and lands with low speed, cannot stall, and is very easy to control. This makes a PAL-V one of the safest types of aircraft. Obtaining a licence requires only 20 to 30 hours of training.Thanks to its very short take off and landing capability, it is possible to land a PAL-V practically anywhere. For take-off, a strip of 165 meters (540 feet) is enough and it can be either paved or grass. Governments are already preparing for increasing traffic with Personal Air Vehicles like the PAL-V. In the United States and in Europe government-funded development programs are determining the infrastructure of ‘digital freeways’ to provide a safe corridor using GPS technology. The technology is available today to allow personal air traffic to grow safely. PAL-V Europe N.V. is determined to play a leading role in this market.
Terrafugia also flew/drove their prototype from the Plattsburgh Airport last week. Hopefully Google will get around to making an autonomous flying car. That will be cool.