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Maybe I’ve just watched “Back to the Future” too many times but the latest design from Ma.-based Terrafugia, the maker of flying aircrafts that also work as cars, looks like all that’s missing is Doc and some plutonium. The next-gen TF-X will be a street legal plug-in hybrid car that has collapsible wings, retractable propellers, and is capable of driving and flying on its own in the event of an emergency. Flying Car Gets FAA Approval When I talked to Terrafugia co-founder and CEO Carl Dietrich about the highly anticipated Transition, Terrafugia first street legal plane, four years ago, Dietrich said the fuel-efficient vehicle promised to both revitalize under-utilized regional airports and  alleviate traffic congestion  (video). Just getting on a commercial airplane is tough enough these days, so it’s no surprise that Terrafugia has taken so long to navigate regulatory hurdles. Earlier this year, it cleared a major one when the FAA  classif...