Much like in the Kenner days of Batman being a pirate, ninja, Viking, etc, Batman Timeless is looking to repeat that trend.
Batman Timeless is the Play Arts Variant line of redesigned Batman figures. Each one is based on either a designer's vision, or a stylized interpretation of how Batman would look in a historical setting. The latest entry in the line is the Play Arts Variant Steampunk Batman.
His wings seem to be made with some sort of hydraulic device, and not sure how heavy that armor would be to allow him to fly, but it sure looks cool.
No price or release date has been announced, but expect those to be announced soon.