designer Josef Cadek.
The circular frame allows for unusual folding. After releasing safety lock nuts, the wheels can be turned into the frame. A belt system mounted on two rollers allows the "chain" to be folded. The rear hub has internal gearing.
The seatpost folds back after pressing the red safety lock. To fold the handlebars, the cyclist turns a safety lock nut on the top of the head set. Bike is equipped with disc brake in the front and the clamshell brake at the back, so the brakes don't block folding of the wheels.
According to the designer, this kind of bike will be welcomed by people in the cities, young people, and students at the campuses. It can be use to good effect in large industrial facilities, airports, and city centers as a rent-bike.
Another use is for multimodal transportation. The commuter can park outside of the city center and then continue riding bike loaded in the trunk. Term "park and ride" will have a new meaning. This also looks perfect to bring on public transportation. The color is a safety feature.
The circular design brings to mind Thomas Owen's One Bike, which is also a folder with wheels that fold into a circular frame.
See thumbnails of more Locust folding bike images here. Seen at CoolAsFunk.com.