Seriously though, there's no right answer to the "every nut and bolt" question. I've studied engineering, worked as an engineer, and built many diverse projects and the parts list always changes. Bersides, don't just build a kit kart, engineer something. I mean poke around on here and learn the components but start with your design criteria: how heavy is the driver? how fast do you want to go? how fast do you want to stop? on road or off road?
Then look at what you've got: what are the horsepower and torque specs on the motor, can you put it on a dyno at the college.
Design a drive train that will get you from what you've got to what you want to get out of it. Figure out on paper the right gear ratios that will make the most out of your power source.
If your just trying to learn the basics, get a cheap junker off craigslist and try it out. Break it a few times and see what you'd do differently. Try to incorporate something from each one of those boring classes you take, even the OSHA stuff for factors of safety, then you take ownership of your education. Overcome some adversities and make something original with data and calculations to back up every element of your design. That will get you extra credit in your education and ahead in your career.
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