The Transition, made by Massachusetts-based Terrafugia, features two seats, four wheels and retractable wings, and was unveiled at the New York International Auto Show over the weekend.

There are currently 100 pre-orders for the Transition, which equals a waiting list of two-to-three years at Terrafugia’s small production facility.

With a full tank of Premium 91-octane fuel, the Transition should have a range of 644 miles. It is, however, currently restricted to US domestic flights only.

The Transition is expected to be made commercially available in 2013 at a price tag of around £176,000