[Charles Martel]

The demo video shows the propellors folding up for “cruising speed”. I guess it becomes a jet aircraft at that point.

No, there's a large ducted fan behind the cabin for main propulsion. I'd guess that the pivoting wingtip props are mechanically coupled to the main engine through the wing roots.

[thackney]

I'd guess that the pivoting wingtip props are mechanically coupled to the main engine through the wing roots.

The wingtip props are electric and battery powered. After lift and cruise speed, they operate as windmills to recharge the battery, then fold away.