(CBS) -- It's a car, it's a plane, it's a... flying car?
The Terrafugia Transition Roadable Aircraft has received an exemption from the FAA to allow the craft a maximum takeoff weight of 1,430 lbs, more than 100 lbs more than allowed other light sport air crafts.
Since this "flying car" spends its share of time on the road, the extra 110lbs go toward safety features such as airbags, a crumple zone, and a protective safety cage, according to a company press release.
This FAA exemption means that the Terrafugia Transition can now be classified as a light sports aircraft.
This is a big deal for potential buyers since it's much easier to get a pilot's license: There is less documentation, and you need only 20 hours of logged flying time, according to CNET.
The aircraft has folding wings and a 115 mph cruising speed in the skies.