In a word - NOT RECOMMENDED!
Not just because its a folding bike - but because I don`t know of ANY mtb bike in that price range that I`d recommend would be OK for that.
Bikes aren`t really much different from cars - color and style are big selling points in both and a `sporty` look appeals to lots of people in both.
The reality is that any mtb bike that costs less than $500 or is equipped with Shimano Tourney or Altus or Acera or Alivio components is intended for city driving , light use and any suspension system is purely in name only.