Watch the moment an electric flying boat that is being dubbed the future of water transport speeds along the canals of Venice – and it could be the key to saving the city from sinking.

In a pioneering move, the Candela C-7 is the first speedboat that doesn’t create harmful wakes and uses hydrofoils, a lifting surface that operates underwater, allowing the machine to fly.

The eco-friendly vehicle could be the solution to stopping the increasing erosion of Venice’s wooden pillars, which the city’s houses stand on.

The damage is currently being worsened by taxi boats, water ambulances and police boats, which is necessary transportation for the floating city but increasingly detrimental.

Swedish tech company Candela has now introduced its new electric hydrofoil – with the speedboat able to fly above the water’s surface at high speeds and intended for long-range electric cruising.

The unique design was created by combining computers, sensors and software with underwater wings (hydrofoils).

The result is a low-friction electric boat with unprecedented range and speed, which also offers a smooth ride, silent drive train and 95% lower operating costs compared to combustion engine boats.

In a video of the C-7 speeding along the Venice canals, the impressive vehicle can be seen hovering over the water, barely causing a ripple in the surface.

The craft appears to travel incredibly smoothly as it passes other boats.

Candela is also currently developing a water taxi and electric ferry – the latter of which has been purchased by Swedish authorities for public transport use in Stockholm.