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Looks like it copied the BMW Isetta. I had one in sixties. Got it for $50 and my sister used it in High School and I used it at college. Sold it for $450. It's now worth more than $30,000 if you can find one.
No. Not a rubber drive shaft but a rubber U-joint. It was a strange hookup. My brother also had an Isetta. The rubber U-joint was broken and he couldn't find a replacement (no internet in those days). He just left it in his garage covered with a tarp. When he retired he sold it for around $15,000. He only paid around $800 for it. They are worth much more now.Didn't the Isetta have a rubber driveshaft? If I recall, they also had a canvas roof so you had a way out in case of front accident.