This is a vehicle used for the short animation "Lotto Redshift" in April 2013:
http://www.youtube.com/watch?v=fEuuZ3W2ZfQ
The file is setup so that the "wings" of the hover car emit torus', which are used for a displacement map in the node editor; if rendered as an animation, this gives the "fluttering" effect like a heat wave, though the original concept was that the cars are elevated by electromagnetism.
Moo-Ack!
~Patrick W. Crawford
Amazing!!!