REI CVT belt drive “Gotham” commuter bike.
Fallbrook Technologies has been developing continuously variable transmission (CVT) gears for bikes for a number of years, and they’ve created a winner with their NuVinci n360. A number of bike companies apparently agree, with several announcing models using the new drive.
REI is one of them with their Novara Gotham all weather commuter bike, which also features Gates “Center Track” carbon belt drive.
The Gotham has a step through frame (of sorts), alloy fenders and chainguard, rear rack, and disc brakes. Retail price will be $1,299 and will be available Q4 2011 (in other words, Real Soon Now, but probably December-ish).
Seattle-based Bike Hugger has the inside scoop on all things REI; they mentioned Gotham way back in July.