Terrafugia, Inc. announced today that it has signed a lease with Nashua Airport for 6,700 square feet of hangar and office space. The lease agreement comes as the company announces its plans to start production of its first flying car, the Transition®, in 2019.

Terrafugia, founded in 2006, has grown from 20 to over 200 employees worldwide in the past year. The company is proceeding with their testing program as part of the last phase to certify the Transition®, a fully drivable and road-legal Light Sport Aircraft.

"Years ago we would test our aircraft at an airport and sit hunched over our laptops in a truck on the tarmac," said Phil Meteer, Terrafugia's test pilot. "This next chapter for Terrafugia includes facility upgrades to host several aircraft where we can perform testing on an array of prototypes and production aircraft simultaneously as we ramp up operations."

The first Transition® flight assessment vehicle is expected to make its way to Nashua in early 2019. Terrafugia will test additional assessment, prototype and production vehicles at Nashua airport and could see up to eight vehicles housed in the hangar at one time. The wing-folding mechanism allows for more aircraft to fit in the hangar space. The office space will host six to ten employees including flight test engineers, test pilots and marketing personnel. The facility may be used for flight training down the line.

"We are excited to host Terrafugia's Transition® prototypes and production vehicles at Nashua Airport,"said Chris Lynch, Nashua Airport Manager. "This partnership is bringing the latest innovation in aviation to Nashua while providing a location for the company to upgrade its testing efforts."

Terrafugia expects to host an event at the airport showcasing the latest Transition® prototypes in 2019. To stay updated on the latest happenings at Terrafugia sign up for the newsletter at http://terrafugia.com/contact/.

About Terrafugia, Inc.: Terrafugia, Inc. is a wholly-owned subsidiary of Zhejiang Geely Holding Group (Geely Holding), a global automotive group that owns several well-known international automotive brands. Founded in 2006 by five award-winning MIT graduates, Terrafugia's mission is to create practical flying cars that enable a new dimension of personal freedom. Today, Terrafugia's team of experienced engineers, designers, certification experts, and business professionals combines aviation and automotive expertise in pursuit of a common vision to disrupt the transportation industry. Terrafugia's first product, the Transition®, will enter the market in 2019. Terrafugia's next generation concept is the TF-2, a VTOL aircraft for cargo and passenger loads. To learn more please visit, www.terrafugia.com.