Bike porn

probably, but looking at other image, it's pretty clear the saddle height can't be adjusted, unless it's a coaster hubs, there's no brake, tyres are not inflatable, and the pivot point I can't really see or read anymore information on that, after all it's just a prototype to show the folding wheels I suppose.

Even the chain is removable;

it's very very clear that all the tube lengths are adjustable so yes. the saddle looks like it will... nice concept...hope it gets made so i can see it ride!