The first flying automobile, equally at home in the sky or on the road, is scheduled to take to the air next month.

Terrafugia Transition is a two-seater car to a plane in 15 seconds. Its wings fold when in car mode. Built by a small American company from Massachusetts-based where the transitions are developed by former Nasa engineers.

If it makes a successful test flight/drive, the Terrafugia Transition could be in show rooms in 2010.

The vehicle can fly up to 500 miles on a single tank of unleaded gasoline at a cruising speed of 115 miles per hour. In its car mode, the Terrafugia can go up to 90 mph, it has been tested. The same 100-bhp engine powers the car in the air and on the ground.

Carl Dietrich, the company's CEO, said he had already received about 40 orders for the vehicle. It is expected to sell for about $195,000.