Hot Wheels - Extreme Racing
Platform: Playstation 1
Region: USA
Media: Disc
Controller: DualShock Control Pad
Genre: Racing - Cars
Gametype: Licensed
Release Year: 2001
Developer: Atod AB, HotGen Studios Ltd.
Publisher: THQ Inc.
Players: 1 or 2 VS
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Based on the Hot Wheels toy car collection, this racing game takes you on a wild ride though various, rather filthy, environments, fighting opponents to finish first in each race.

The basic gameplay is similar to most racing games. The player controls a car and races around tracks as fast as possible. By collecting pick-ups new properties can be obtained, such as nitro boosts, oil slicks, projectiles and other weapons. The computer-controlled cars can also collect the pick-ups and use them.

Cars have the ability to transform into four different types of vehicles: racing, truck, plane and boat. While transforming the body of the car stays the same while the side of the car "grows" wheels, wings or fins. The stages are divided into different parts, each designed for a specific vehicle. The parts are separated by a "transformation portal". When the player drives though such a portal the car will change into another type.
 
http://www.mobygames.com/game/playstation/hot-wheels-extreme-racing