Yes - the first thing I noticed when having a good old poke around was what looks like a standard radiator. Hoses go to the motor and the speed controller and I think to the charger, there looks like 2 electric pumps and a heat exchanger in the mix as well. I think I can add a picture of it.
I sometimes make R/C model aircraft and have converted them all to brushless motors, electronic speed controllers and Lithium Polymer batteries - all need to be air-cooled. Our up! drive system is the same thing just bigger (and with more stable LiIon instead of LiPo) - the ESC provides the timing and therefore speed of the motor and both get hot at high power. They are of course much more efficient than old-style brushed motors that do their own timing (commutator & brushes) and a variable resistor as controller (that effectively wastes power as heat to run the motor slowly).