That’s probably some aftermarket device, it could be a modded cateye turn signal box. Maybe something like these cateye turn signals on these magnums handlebars,
Sometimes were were are a dealer add-on or you could just buy a set of cateye and install them, the wiring is easy.
A two speed maxi if sitting for a long time will need it to be completely gone over/serviced,
The Engine/topend, carb/tank fuel system, transmission, Magneto/electrics, brakes, wheels/tires everything and unless you’re willing to do that yourself a motorcycle shop will will charge you hundreds or thousands and they still won’t do it right,
To be safe every system has to work perfectly for if it’s a 2hp Model it’s capable of 30 miles an hour stock or 35-40 mph with simple mods