the type K is part of a range called "velocar", which were originally literal wooden pedal cars for adults.
they made them from 1927 and there was a complete range of models, from basic square bodywork to ones with rounded noses and convertible tops, lightweight sports models, vans, and pickup trucks
The rear axle has no differential, with the wheels being kept close together to try and limit the issues that causes. until 1940ish there was no suspension. it was only after WWII that they abandoned the plywood bodies and bicycle pedals for steel and two stroke engines, although they kept the chassis the same otherwise
when I was 19 I started to build a replica of one but we got kicked out of that house long before I had anything to show for it