For a shunt wound motor at 165 RPM, no load, the only current will be to supply the losses.
If you slow the motor down, it will act as a motor and the current will increase as the load increases.
If you over drive the machine it will act as a generator. The first few RPM over speed will be supplying the losses. As the speed is increased the current will drop to zero and them increase as energy is returned to the source. Some motors will transition from full motoring to full generating with as little as 5% change in speed.
Your motor is listed as 48V, 165 RPM.
A shunt motor with those ratings may have, as an example, the following characteristics:
1>Field current and rotor voltage fixed; Full load RPM, 165 RPM,/ Full generation, 173 RPM.
2> Field current and speed fixed: 49.2 Volts applied to the rotor, Full generation/46.8 Volts applied to the rotor, full motoring.
3> Voltage applied to the rotor and speed fixed: Field current -2.5%, full motoring/ field current +2.5%, full generation.
These figures are accurate for a shunt motor near rated speed. The accuracy of this model is compromised by losses, magnetic permeability and saturation, and in the case of compound and shunt motors, by interaction between rotor current and field strength.
Yes it can be done. The challenge is to design circuits that will adapt to smooth control over a wide speed range without excessive losses.
Field control is effective but has a limited range.
You may have success using four six volt batteries. You may be able to get efficient regeneration down to 10% to 12% of rated speed with field strengthening. Then transition to 12 Volts, 24 Volts and finally to 48 Volts.
Bill
--------------------
"Why not the best?"
Jimmy Carter