It looks very much like a modern uptake on the old, post WWII, Messerschmitt Kabinenroller KR200. I wouldn't mind one for wet club ride-outs (A 'bike licence covers it here) as it would keep these tired old bones nice and dry and comfy. I think a nice litre Kwakka 'bike engine, or, say, a Suzi GSX-R 750 engine would pep the performance up a bit, 0 -60 in four seconds and a top speed of circa 125-135 would enable me to keep up with the 'Touring' class riders with a bit in hand for safety reasons.
Ken.