Seems there was a discussion a couple of years ago about the structural merits of a similar design. It didn't pan out in the designs favor. Could be a rare collectible, like an MIT v8 or Merc that isn't broken.
Not familiar with this Hungarian brand - not much info out there. Looks to be along similar lines as a Stowaway of that era.
It has a 3 speed IGH, with grip shifter, but not sure if it's a Sturmey Archer hub.
Here's a pic - anyone seen one like this?
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