It's a "Hot Rod" version of a 1925 Volvo built by "Caresto"not Volvo. It is also "blue" not "black". It is built in the style of a "Lakes Modified",a "T-Bucket has no hood and a shortened pickup box.
Nothing really new in this one, it's what Henry Ford would have done with today's technology. Even the colour is his style - 'You can have any colour you like, as long as it is black'.
It's a "concept" car. That means it's never going to be in production, it's been a plaything for the boys in R+D to use up a budget underspend but looks good at auto shows.
Then again, maybe there's an autosensor which recognises bumpy road surfaces and turns the curvy axles around by 180o - thereby clearing the bumps :o)
It looks like a 1930's design by someone with little understanding of the realities of road surfaces. Perhaps he 'thought' that all roads were made of steel plate and were perfectly flat. Look how close the body is to the ground!