Abstract: A two-speed transmission having an input shaft and an output shaft. A slow speed input pulley and a high speed input pulley are provided on the input shaft. An overrunning clutch and a selectively engageable clutch are provided on the output shaft, each of which has a pulley provided thereon. A pair of timing belts, each of which has teeth on both sides thereof, pass around the pulleys provided on the input shaft and the pulleys provided on the output shaft causing the output shaft to rotate at an opposite direction from the input shaft. By selectively engaging and disengaging the selectively engageable clutch, the output shaft can be rotated at two distinct speeds and at the high speed, it overruns the drive mechanism for the slow speed stage as a result of the use of the overrunning clutch.