Never seen or heard of this
But it is cool
It's from an old anime, Galactic Whirlwind Sasuraiger, which unfortunately hasn't ever been translated. It's loosely based on Around The World In 80 Days & the characters all have very American names. Not to mention the antique steam locomotive-styled spaceship that turns into a robot.
Takatoku, the company that made the original toys for Macross, Orguss, and Dorvack (many of which were acquired for G1 Transformers) also made the toys for this show. They made sofubis, non-variable action figures, a small henkei-type transforming figure (later released in the US under the Convertors line, which I also have) and this big guy. Both the transforming toys require a bit of parts-forming, but there's something highly impressive about getting a robot that imposing out of something that looks like it should be running around your Christmas tree.