Interesting... obviously a fake - I mean, look at the 'connection' to the suspension tower - but wood there is *not* a bad material - it's good in compression, dimensionally stable, light, and cheap.
Of course, the connection points would be the tricky bits - spreading the load there would require a bit of careful thought.
Going further, one could make the entire chassis from suitable timber - wait, hasn't that been done? Ah, yes:
http://www.rory.uk.com/marcos_wooden_chassis.htm