The end of an era?

Peddling never moves the wheels.

I dont know anything specific about this particular model but these are concepts that have been recycled. The drivetrain is some flavor of a direct drive, looks similar to a differential on a car. The wheels are basically spinning around a slightly smaller inner wheel that acts like a huge hub - probably with a layer of ball bearings in between. Something like that, I didn't zoom in but thats generally how these things work (if at all).