That's the Rinspeed "Splash," a 2004 concept car by Rinspeed that transforms from a street vehicle to something that "hydroplanes" on the water:
Under the ultra-light carbon-composite skin lies much more than just an agile and lively sports car. The Rinspeed “Splash” is the true incarnation of a really cool and fun sports toy. At the push of a button a cleverly thought-out hydraulic mechanism transforms the sports car into an amphibious vehicle. But that alone wasn’t enough for Frank M. Rinderknecht (48), founder and boss of Rinspeed. A highly complex integrated hydrofoil system enables the “Splash” to ‘fly’ at an altitude of about 60 cm above the water.