Hey, they were the pioneers and they wanted to build a real flaying car not just a plane with foldable wings. It's almost done. It's already flying in contrast to the Jetpod that plummets.
That's why it took so long.
This video has been used to claim that the skycar is nearly operational:
http://www.youtube.com/watch?v=ElS9BKSsezw
But in fact there is a large crane in the background that the skycar is tethered to.
The jetpod, in contrast went up to about 500-700 feet, then crashed according to reports. So, it was actually flying and unfortunately suffered an engine issue in the left hand side engine.
The SkyCar has been 'almost done' for as long as I can remember.