I don't know a lot about small engines, but I know for sure on larger engines you need a certain amount of intake and exhaust manifold/ system or else the engine won't run efficiently. Running the engine extremely lean works in theory, but only up to a certain point. You would need an extra engine or 2 to test the points at which the engine would seize from the fuel air mixture to maximize the F/A lean mixture. EFI would also be very good for this as you could program the EFI for timings. Speaking of timings, what does this have for a valvetrain? OHV's make for a smaller and lighter engine, but more power is lost because of the lifters. SOHC would be something to look at, maybe even with VVT if you could find something like that on a small engine.
The ignition system would have to be computer controlled, if you had an ignition system at all. The only problem with all of the computer parts is they need to be protected from the elements, which requires some sort of an enclosure which would mess with the aerodynamics of the vehicle unless there's a pre-built engine compartment with a small area for these systems. If this was a larger engine (like a small 4 cyl. Honda 1.2L), I could help out more, but this is all I can think of for a small unknown sized or manufactured engine.
Or an even more radical idea would be abandoning a traditional Otto cycle piston engine and looking at a Wankel engine. For a similar size they do output much more power, and I think you would be able to find a small enough one to fit the need of this vehicle. The only need for it is a real EFI and ignition system, but I think it would make a better power source. If you want more info I suggest making a new thread in The Garage, as they have more experience with all types and sizes of engines in total.