I did find more info,(LSA)-Laboratory of high speed automobiles?
That's correct, yes.
The Laboratory of High-Speed Automobiles (LSA-KhADI) was founded in 1953 by racing driver Vladimir Nikitin with the purpose of creating the fastest cars in the world. The original idea has been continued by students of Nikitin down the years.
The first car to be created by the students was the puzzle car, KhADI-2, in 1961. Its body was made of glassfibre, apparently the first time the material had been used for a car body in the USSR (though I'm sure I've seen plenty of 1950s home-built Soviet cars that look like they're made of glassfibre...).
I believe they are now up to KhADI-34; some of the others have been featured here on AP before but this one has not been puzzled. It would be nice to see some other pictures of it; but I can't believe it was ever one of the fastest cars in the world...!
Here's the original puzzle picture before slight re-touching:
