It's a kind of canopy that attaches to the handlebars, swoops over the bike, attaches in the rear, providing an umbrella-like effect for a bicycle rider. Interesting idea http://www.veltop.eu/index.php?produit_veltop_en
We don't get much rain in california so I hardly think about rain protection, but I hear rumors that rain is more of an issue elsewhere.
Never mind the rain, what about the sun? It can get intense during the summer. And an air conditioning unit would be useful on an ordinary bike. But once there's a cockpit. . . .
WHo dares, WINS!!!!