This is a variated version of the Minarelli V1. They are the same in many ways to the non-variated brethren. They can be identified easily by the large belt driven rear pulley on the right hand side of the engine. The front pulley is hidden under an aluminum case that also houses the starter clutch assembly.
The transmission is a dual variated CVT, similar in design to many mopeds and scooters. It uses springs and roller weights to change the shape of the pulleys in tandem, which changes the gear ratio while keeping belt tension. The belt used is size A-26.