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Samson Motors has announced the Switchblade is ready for launch in spring 2018.

And more than 240 people have already reserved a model from the Oregon-based company.

The two-seater vehicle has extendable wings and a retractable tail that fold out.

It will have a cruising altitude of 13,000 feet and will reach speeds of 200mph in the air and 100mph on the ground.

The mind boggling creation is 5.1m in ground mode – the same length as the standard Mercedes-Benz S-Class – and would expand to 6.2m in the air when the tail is extended.

(Image: Sampson)

Describing the innovative concept, Sampson CEO Sam Bousfield told Robb Report: “In my mind, it needed to be something more useful, something you could use every day, not just something that you do on weekends to spend money.

"I realised that the future of transportation is in the air.

"You have The Jetsons, The Fifth Element, Star Wars, Star Trek—almost every TV show or movie that deals with the future sees us all up in the air.

(Image: Sampson)

"I was thinking that’s where we’re headed.

"But how do we get there?

"What’s an in-between step that we could do now? Then I came up with the idea for the Switchblade.”

The three-wheel motor – which comes with a parachute – will not have vertical take-off and landing capabilities.

(Image: Sampson) (Image: Barcroft)

The car would take off naturally if the wings are extended at around 80mph, Sampson said.

A full driving licence would be needed to operate the car on the roads and a private pilot’s licence is required to fly it.

Other flying car efforts include Uber’s flying car, the PAL-V Liberty and Airbus’s flying car.

(Image: Sampson)

And last month a British company entered the race to develop the world's first flying car.

The NeoXCraft will be able to travel by air, road and water.

It is hoped to be ready in the next three years.