Tesla founder Elon Musk plans submarine car

Tesla founder Elon Musk gives the opening keynote at the SXSW Interactive Festival on Saturday, March 9, 2013 in Austin, Texas.(AP Photo/Jack Plunkett)

October 18, 2013 4:44:04 PM PDT
Tesla founder Elon Musk is ready to start a new project and he has James Bond to thank.

Musk confirms he recently purchased the submarine car prop used in the 1970's Bond film "The Spy Who Loved Me."

He bought it at an auction in London this September for $989,000.

Musk says he was disappointed to learn it actually didn't transform into a sub. But the eccentric billionaire is going to change that. He plans to convert it into a real car that can actually transform into a sub. And, he plans to use a Tesla electric power plant to make it happen.