oil pan 4 is right, DC motors are cheap and controllers can be found pretty cheap too if you look in the right places. Depends on how much power you want.
Hell, brushed DC motors can be 93% efficient, you'll need one hell of an AC motor to have a significant improvement over that. I'm not sure why AC motors are used but it probably has to do with the fact that they can hold speed easily, and I think regenerative braking is easier to implement (not sure on this one). I'm guessing it's a controller thing.
If you want very high power in a small package you can buy RC airplane motors with 20hp peak power that weigh like 5 pounds. Decent controllers can be had for low hundreds. If you take the cheaper RC airplane motors, maybe add beefy bearings, hall effect sensors, and put one on each wheel of your car, you'll have a good amount of power on tap.
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