what do i need to build an electric go-kart?

I was involved in a school project to make and race an electric 'car' (more like a go-kart) in the 'Greenpower' competition.

http://www.greenpower.co.uk/about/

We used two 12V batteries, a 12V electric motor (batteries in parallel for longer life), sprocket and chain as powertrain, simple steering system consisting basically of an L shaped rod, 4 bicycle wheels, tubular steel chassis (wood would be lighter) and some fairly simple electronics. Finally we used plastic and plywood for body panels.

The thing wasn't particularly quick (approx 22mph) but lasted for three hours or so. Some sort of cooling system for the motor would be prudent if you were going to use it for a while at a time.

Have a google and you should find most parts, you can even buy chassis ready-made. Don't bother with speedometers or other gadgets, you want to make the thing as light as possible. Variable speed control isn't necessary either, ours literally had a button that you held down to keep it at full 'throttle'.

2 pieces AA batteries connect them in series to make up 3 volts.

several white LED rated at 2.7 volt to 3 volt, current 20mA.

Connect the LED directly to the 3 volts battery pack,it shall light up.

It can support 10 LED up to at least three hours with a fresh AA cell.

Tight the batteries in the center of kart and balance them well,because it is the most heavy item.

You may replace the 3 volts battery pack with a single computer coin shape battery rated at 3 volts

(sold in most dollar store), but it only support half hour.

What's your budget?