Well Squba was actually announced back in 2007, a project from a Swiss company called Rinspeed. Their car can both drive on the roads and then at the push of a button dive up to 33feet underwater.
Note that ScubaCraft - a newer vechile can go up to 98 ft - but can't drive on land.
ScubaCraft can actually go up to 98 ft underwater. We will definitively see more of these types of vehicles being developed for the scuba world. Allowing us divers to explore more area while underwater.
Rinspeed describes sQuba as the world's first real car to drive both on land and underwater, thanks to some cutting-edge technology. The car has a steel chassis, while its lightweight body panels are made of carbon nanotubes.
An electric motor provides rear-wheel drive while on roads. Underwater, two propellers in the stern and two jet drives in the bow propel the vehicle. With zero emissions, the design is even environmentally friendly, eliminating any pollution into the sea.
The two-seater also includes a self-contained on-board oxygen system to supply the driver and passenger with fresh air for breathing.