2s eBuggy lite with the EB48 works fine, but heat is a common issue if running longer mains.
That being said, it can NOT keep up with a 4s eBuggy on a normal 8th scale track, and it will have serious fade from voltage sag and heat by the end of a normal 8 or 10 minute eBuggy run if you can even make it that long.
If you're indoors or on a small track with 5 or 6 minute mains, then 2s and 3s can work quite well, keeping the weight down with the smaller batteries and motors. I normally ran with the hobbywing 4700 current limited to 60% on an rx8 with no timing and a 16t pinion for quite a while, and often won with it in the eBuggy lite class. It requires good ventilation though, and to not overdrive it too much (but it is an eBuggy so you have to drive it hard...cause it is an eBuggy!).
If you are on a larger track, have longer mains, or are outdoors though...I would definitely drop the t8 1900 in and run 4s as that is perfect for eBuggy and what the EB48 was designed around for a motor.