Welcome to the latest innovation in automobiles, a car that can run on land and underwater - if it reminds you of a James Bond movie, you are not the only ones.

Called sQuba, this car was invented by Swiss designer Rinspeed Inc, whose CEO is a big James Bond fan. He says the inspiration to build a car like this came after he saw something similar in the Bond movie " The Spy who loved Me" - over thirty years ago.

The sQuba is the first real submersible car - it travels like a submarine and is able to go down as much as 30 ft below the surface of the water. While it can drive about 77mph on land, in water its speed is reduced to 3mph on the surface and only 1.8mph underwater. sQuba's engine comprises of several electrical motors, situated at the rear of the car. One provides propulsion on land, whilst the other two are used for underwater driving.

Passengers in the car will be able to continue breathing underwater through a tank of compressed air similar to those used in scuba diving, but can expect to get really wet (and cold), because the sQuba is a convertible. Rinspeed says that's just to ensure that passengers can get out easily incase the car malfunctions.

sQuba is currently just a "concept" car that will be displayed at the Geneva Auto Show later this month. This first model cost about 1.5 million U.S. Dollars to manufacture. Rinspeed Inc. estimates that if produced commercially, the car will cost about the same price as a Rolls Royce - about 400,000 U.S. Dollars.

The video below featuring the sQuba in action, truly feels as though one is watching a James Bond thriller.