It's called MG Cyberster. It was revealed on Shanghai Motor Show, April 2021.
The Cyberster’s intelligent all-electric architecture will enable an approximate EV range of 800km (500 miles) and deliver a 0-100km/h time (0-62mph) of less than three seconds, while the body is designed to enhance aerodynamic performance.
Looks like MG is trying to draw some attention from its Chinese clients and that would be Cyberster's reason to exist. As in many concept car cases, if it received enough approval from potential buyers, it might go into production phase, but for now it seems rather unlikely to happen.
Precisely. This car was definitely created to lure attention and some potential buyers, particularly in China, who are looking for an original style and want to be different than their collegues who own Porsche, Maserati etc. Some might just be car collectors and want to have another interesting position in their garage. No matter the motivation, such buyers in vast majority of cases already own other, much more "practical" car. No automaker would resist to put a concept car into production if enough demand is met. The question here is - was there enough demand?