It is just a really big 3D printer. There are becoming more common. Most are a cross between and injection molding machine and a 3D printer. They use plastic pellets instead of filament and grind/melt them in the head. They have much higher pressure and nozzle diameter at the nozzle. You can use them to make large plastic things like the chair in the picture or where they are super cool is making molds for other materials like carbon fiber or fiberglass.
Say you are doing a prototype for or one off bumper. That takes big block of steel or aluminum to machine for a mold. Easily $100k to machine the mold, which does not work for one off parts. Your other option is to sculpt it by hand. That is the way it has been done for many years. However that is time consuming and takes a ton of skill. It is a dying art form. The new option is printing a plastic mold. A little bit of finishing and you can pull really nice parts for $100 in plastic and 10 hours of run time over night. That is actually why I upgraded to a larger format printer. You can print multiple sections and glue/bolt them together but it adds extra work and clean up. Glues molds tend to only be good for one part as epoxy gets into the crevices at the joints and likes to stick and tear the mold when you pull them out. With single part molds you can generally get several parts out of a mold. The consumer plastics you will only get a few parts out of. Some of the new plastics I'm told can actually do production runs.
Easy Composites has some good videos of doing it on a small scale:
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