That is not a PS. BMW fooled around with a folding hardtop on the test mules on some of the cabrios in the E46 series. They then decided to go for canvas roof, and wait with the folding hardtop solution for the next generation. I know there is more pics of the E46 cabrio with a folding hardtop.
E93 320i M Sport. Fully loaded at the factory in Germany. And: BMW M Sport suspension, GP thunders 8500K fog, BMW 225M winter wheels. BMW Performance 313 summer wheels. Black BMW Performance grill. BMW Performance back exhaust, BMW Performance stripes, BMW Performance mirror caps in carbon, BMW Performance rear diffusor, BMW Performance splitters, BMW Performance alu pedals and LUX Angel Eyes.