Fun read on Formula1 site, and was big into having an exercise and fitness routine. Later came the Colnago ~ Ferrari bicycle collaboration, some with Schumacher promoting.
According to the formula1 site, he did pull a small wheeled folding bike out of the trunk and pedaled a few laps. That might be possible and was done early week prior to test.
The picture above is clearly not a folding bike with 20 inch wheels. Now as I'm thinking about this, I happen to have a German brand folding bike, 20 inch wheels from that timeline. Hehe