Yeah, the problem is that one side has a tendency to bend more than the other if you try the cold set technique with studding.
I cold set a rear swing arm for my Puch the other day from 130mm to 155mm. But I had to fabricate a jig to do it out of 18mm plywood so. I could stretch each side independently. Otherwise the wheel centre would have been way out.
It was a substantial stretch and I thought I would need mapp gas, but found it stretched easy enough cold. I just had to guess the overstretch to allow it to spring back to where I wanted. In my case the overstretch on each side was 50mm to get it to spring back to 12.5mm.
And then of course I had to do a second bend on each side at the rear to pull the axle flats back in parallel, one side at a time using the jig.
And I may need to fine tune it when I eventually get the motor and try a test fit. But it measures up pretty good at the moment with the original rear wheel mounted and spaced out with washers.
This is what I was working with:
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