The Elio will be using a dual lift or shifting hydraulic bucket on the intake. This allows for high and low lift based on engine RPM and load demands. There are three lobes per intake. Effectively the same system as Porsche uses as it's Variocam Plus System. As pointed out earlier in this post the bucket tappets are hydraulic. The integral cam cover with integral cam bores, would require a lot of tooling to allow the use of a shim style mechanical adjustment.
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To clear up any doubt, the cams run in the parent aluminum of the camcover and cylinder head. This is a proven method in engine design for 35 plus years. It does require tighter design and manufacturing tolerances with today's lower viscosity oils.