Rodney has a lead bottomed DC drive 2001 e2 that can hit 50+ so it can be done, but it’s not for everyone. One thing about Rodney is that he almost certainly knows more about the 99-04 years than anyone out there, including the designers. Everything on his is modified, including a motor that he personally reworked and you shouldn’t even be able to fit in the vehicle. Even his T1 or T2 controller has been reworked from 300 amps to 500 amps to handle that ginormous motor. (post 04 controllers are 400-500 amp)
It’s very easy to make any classic (original body style which lasted until around 2014 IIRC) GEM go a little bit faster. Adding up to about 10 MPH is a snap, costs less than $200 and takes mere minutes to do. All you need for this is a way to bypass the maximum speed setting of the controller. Get a “magic magnet” from Dave @Inwo, plug it in to the motor’s speed sensor output wiring and you’re done. Or get a programmer and raise the maximum speed in the controller, not all controllers have this parameter available for user adjustment though.
Getting past that 35 mph-ish stock hardware limitations gets progressively more complicated, time consuming and expensive though.
First off, you’ll need more juice. This means adding more batteries or swapping out for a whole different battery technology. You can stick with marine batteries for the lower cost, but it quickly becomes diminishing returns after the first +1 because of the extra weight. The 7th battery hack plus the governor max speed adjustment or tricking should get you into the low 40’s. Lithium will give you even more juice, 90 volts + at 1/4 of the weight or less. Less weight = more speed.
Past that, you’re into math and money, especially considering you are trucking around 500-600 lbs of ballast.
Larger tires will get you a bit more speed, but your acceleration will suffer. 02-04 had 10.35:1 gearboxes, 99-01 had 8.9:1. 8.9:1 will give you a better top end, but your tire options are limited. Too tall and you’ll launch like a snail on Quaaludes.
The DC motors are not high revving. The stock DC GEM motors are only 4100 RPM rated. The ones used from 99-04 are these itty bitty anemic things that can’t handle much more than that. DC motors for the GEMs tend to nameplate in the 4100-5k range. An R$F blue is rated at 5k and you can spin it all day long at 6k-ish, with bursts to about 7k. Other motors can be modified to do similar or more, but the 99-04 doesn’t have room up there for them unless you start moving shocks around or adding wheel spacers. AC motors on the other hand, 8-9k RPM is a piece of cake if you have room for the long motor (which the 02 does not)
I’ve hit 42-43 in my old 2002 eL (truck model). 7 batteries, reprogrammed controller, R$F blue, stock tires. Damn near flipped it on a corner though because of the lame suspension design. Immediately reprogrammed the controller to max at 37 mph.
If you want to take 10-12 mph off your top end requirement, then what you want to do is mostly achievable the way you want to do it. But you better find a good 02-04 to do it on or you’ll be pouring money into that sled to keep it running.