IS IT an aquatic car or a terrestrial boat? The Aquada, a three-seater vehicle with wheels that fold up, James Bond-style, is due to go into production in 2008 and will sell for around $85,000, according to its maker, Gibbs Technologies. In 2004 an early prototype, piloted by Richard Branson, a British entrepreneur, became the fastest amphibious vehicle ever to cross the English Channel. Powered by a V-6 engine, the Aquada is capable of 175kph (110mph) on land and 50kph on water. The company's founder and president, Alan Gibbs, wanted to be able to drive onto the beach in front of his home in New Zealand, which is often inaccessible because of high tides. But Gibbs Technologies' chief executive, Neil Jenkins, reckons the Aquada will appeal to a broad range of buyers, including urbanites in London or New York, who could use the amphibious craft to circumvent traffic-clogged roads.The Aquada will be built in America, and several states are vying to attract the plant. “Personally, I'd like to do it in Detroit,” says Mr Gibbs. He hopes to employ 1,500 workers and produce 100,000 vehicles within five years. The Aquada certainly has novelty value. But its success depends on there being enough paying customers who decide that it floats their boat.