The engine is obviously going to be the key aspect to the projected success. It'll be a, get this, 9.4-litre twin-turbo drag racing engine that outputs a colossal 1865kW of power when fed racing fuel - 1268kW if you fill it with normal Woolworths stuff.
The engine assigned for the job is a race-spec item from Nelson Racing Engines in the US (renowned drag racing specialist) and they say it should be able pass all US emissions regulations, except those in place in California.
Another element that will help the car achieve warp speed is the bodywork. Every panel will be made of carbon fibre, while the chassis will be a tubular chromoly design often seen on racing cars. It'll be lightweight, to say the least.
It will also have to be slippery and road-hugging though, otherwise the car will take off like an aeroplane. TranStar is confident the car won't take off, despite being developed in part by NASA, and Saleen - an American hypercar maker that claims its cars could be driven 'upside down, if the right road was found'.
It is just a concept at this stage and a bit of a dream, but TranStar is very keen to smash to the top speed record set by Bugatti at the very least.
Other truly ridiculous claims include the car being capable of sprinting the quarter-mile run in 6.7 seconds - a Bugatti Veyron manages 10.5, 0-60mph (96.6km/h) in 1.2 seconds and the ability to demolish just about every track time record out there including those made on the famous Nurburgring in Germany.
We'll have to wait and see if all these claims can met. In the meantime, check out the video below for more details on the performance claims of the car.