it probably does it in a different way than the frame shift drive in ED - let's say if it can fold spacetime over larger distances, then 1000 lys is just a step away, where both folds meet. so it would not move a warp bubble through spacetime, but fold spacetime to make a short jump where those folds meet. The warp energy isn't used to propel the warp bubble but to fold spacetime accordingly to be able to make that tiny move to end up 1000 lys from where you started (measured in unfolded spacetime distance, but in the folded form it is just a short distance away) - that is how I imagine it.
NMS ftl is like a weirdish warp drive. where you compress space in front of you and travel across this compressed space where it is expanded back behind you - multiplying your speed beyond that of light but locally you never travel faster than normal speeds.
nms also has wormhole travel.
elite has hyperspace and warp. warp being much like nms ftl and functioning during supercruise. However, above a certain energy threshhold, this opens a tear in our dimension into hyperspace. jump drives tech ...along with the size of the ship and thus energy needed to open the hyperspace corridor dictate the time it takes to traverse hyperspace. Current jump drives are very good at what they do (because we stole the tech from thargoids), and so ships can jump nearly instantly...spending very little time in hyperspace. Thargoids however can theoretically, spend as much time as they want in hyperspace. Older tech would have hyperspace travel measured in hours or days depending on distance.
high jumps are not about folding space in elite, but closer to something like creating an artificial wormhole between two points in space. Space hasn't moved, you've just punched a hole thru it to create a custom - temporary shortcut thru hyperspace.