We aren’t really sure if this is a boat or a car.

David March is the founder of Water Car Inc., a company that turns cars into boats.

According to the Water Car website, In the late 1990’s, Dave March noticed that a number of design specifications between cars and boats were being shared. Boat manufactures were using lightweight high-performance automotive-type engines. Car manufacturers were incorporating light-weight marine-type composite and alloy bodies and chassis. Additionally, automotive manufacturers were using materials specially manufactured to be extremely corrosion resistant. This gave Dave the idea of developing high-performance cars that could be driven on the water, and WaterCar, Inc. was born.

Dave’s vision was to see high-performance cars that were also high-performance boats. But he was not interested in previous amphibious vehicles that just float around. He was interested in designing a high-performance automobile capable of getting to plane on top of the water. His expectation was to reach freeway speeds in the water! His task was to incorporate the very latest materials and components into the optimum design for an amphibious vehicle.

Car Scoop says, the car featured in the video has the body of a 2002 Camero  and comes with an independent suspension and brakes from a C4 Corvette. On the road, it is powered by a 2.5 Liter turbocharged Subaru boxer engine with 300 horsepower that is linked to a Rancho Type I-4 speed manual gearbox. In the water the vehicle is “propelled” by a Berkeley 12JE Jet Drive.

The Water Car is said to be able to reach speeds in excess of 125 MPH (201 km/h) on land. Once the amphibious vehicle is driven into the water all four wheels are hydraulically retracted with the flip of a switch.

Source
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