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redpoint5 -- If you built an Electrathon racer, do you know Mark Murphy? His BugE is essentially a street legal Electrathon car.
That said—anything that is at the limit of its handling at 45, and tops out at 55 on a track, might not be up to general road conditions. Remember, you have to re-engineer a Bonneville car for every 10mph gain.
I doubt you can tweak your way from 45mph to 65mph. Suspension would be a good place to start.
Look at it parked next to a golf cart. They're essentially a 'neighborhood vehicle'. Where those are allowed they are limited to a 35mph top speed IIRC.
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