Terrafugia has named Chao Jing as its new CEO, replacing co-founder Carl Dietrich. Described as “a professional business leader with extensive experience working in international companies,” Jing will help drive Terrafugia toward its first deliveries this summer.
According to the company, the new CEO will also have a fresh CFO, Huaibing Wang, who has “over 20 years of experience in various finance leadership positions in both automotive and industrial businesses.” Of his departure, the company offered its “appreciation and thanks” to Dr. Dietrich for seeing Terrafugia through its initial growth.
Such a change of management structure is little surprise since it was purchased by Chinese automaker Geely (also owner of Volvo and Lotus) and signals a clear shift from primarily development into manufacturing.
The Terrafugia Transition made its first public flights in 2013. The current model is a folding-wing two-seater powered by a Rotax 912iS and a top speed of 100 MPH. Last year, Terrafugia announced updates for the production machine, including Dynon avionics and a BRS whole-airframe parachute. Prices have not been released.
Terrafugia apparently has big plans for flying cars. The TF-2 concept (see video below) is an eight-motor eVTOL that could form part of a multi-mode transportation system.