The closest parallel to this vehicle that I can think of is the original VW L1 prototype - it had an 8.5HP single cylinder diesel and a teardrop shape. It was built using virtually every bit of unobtainium, though and it was *not* very quick; in fact I'm sure that it was quite slow.
I think that gearing is going to be your challenge, and weight. Your aero looks damn good, and it seems to be very robust, and carefully constructed.
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