Correct. This car was developed by Valentini while He was working at Moto Guzzi.
They built 2 of them (the 2nd one, without the body can be seen in the background of the pic) and it was planned with a 50cc engine (from the Dingo) or 125cc (from the Stornello).
Since I gave thewarlord the file with the answer asking not to solve it and probably he forgot it (
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), I'm going to move it but I won't award the point.