The Pegasus and Fusion Human Powered Vehicles - HPV - Kelly Londry
 HPV Racing History - Pegasus Fusion and Aptera
Antonello Cogotti,  the head of research for the Itailian design studio Pininfarina, Alberto Morelli and Ing. Leonardo Fioravanti developed the test vehicle CNR PF in 1976. It had a drag coefficient of 0.19 which was less than half that of conventional road vehicles.
Leisha Peterson and Kelly Londry were partners in Pegasus Research Company, a firm specializing in computer-aided engineering services for the bicycle industry. They also consulted on CAD applications for automobile and aircraft design. Together, they built a number of human powered vehicles for competition in the IHPVA trials, including the 4-rider "Fusion" machine which finished first in its class in 1984. 
The Pegasus four person/four wheel  HPV ran at the 1983 IHPVA championships. In 1984 a descendent called Fusion was fielded at the IHPVA Indianapolis, Indiana championships. It ran well and finished first in the multi-rider class. It was 182 inches long, 45 inches high, 60 inches wide and weighed 150 lbs.

Here the designers, crew, and engines pose for a photo in front of the Indy grandstands.

The Fusion was a four seat, three wheel recumbent and featured an advanced space frame design. Its weight was minimized by the use of finite element analysis throughout. Many people though this design heralded a new era in highly efficient electric automobile design.

You can click on these pictures for a higher resolution image.

Riders prepare for a speed run in Fusion. Note the double tires on each front wheel. 
Riders are sealed into the Fusion Streamliner
Judging by the jackets they picked a cool day for the speed trials. Otherwise the riders would cook while the seams are sealed.
The Fusion is launched, while onlookers and camera crews stand by.
Fusion had a large open area in the tail to allow interior pressure to escape. I don't see any forward facing vents though, and the wheels look pretty well sealed, so the bike may have gone faster with that area sealed off. Also it was noted that Fusion had very limited turning radius, so while it could run at Indy, running it in a velodrome or road race was out of the question.
Mike Burrows raced in the Pegasus in 1983 at the Indy IHPVA championships. He noted: Looking like a futuristically-styled squashed VW Beetle and ponderously bulky, I thought the Pegasus would be sluggish and tank-like. To my surprise, once we got the thing rolling along it went really well. Its size gave us the advantage through corners - nobody was going to argue with a vehicle that big (sort of an HPV equivalent of an articulated lorry). Acceleration wasn't brisk, but with an un-laden weight of 350 pounds and 54 speeds what do you expect! 
Meanwhile, fast forward to the year 2007. Steve Fambro and Accelerated Composites (Aptera Motors) now has a diesel hybrid powered prototype of a 200MPG car that looks a lot like the Pegasus.
In 2010, Aptera has electric and hybrid models that are perennially ready for production. Deliveries are not yet scheduled, and will only available in California.

In December 2011, Aptera shut its doors permanently due to lack of funds to continue development.

In 2012, a Chinese investor purchased what remained of Aptera.
In 2013 the company now called Zaptera was still planned on building vehicles.
In 2014 there was no news about this vehicle
Fast forward again to 2020 and Steve Fambro and team are giving it another try. In this iteration the car will be full electric, with solar panels to provide up to 40 miles of range per day and up to 1000 miles of range. Drag coefficient is said to be around 0.13. Prices are estimated around $35K. Deliveries in late 2021? Let's hope so!

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