- Directors: Larry Wachowski, Andy Wachowski
- Producers: Andy Wachowski, Larry Wachowski, Joel Silver
- Writers: Andy Wachowski, Larry Wachowski
- Genres: Action, Family, Sport
- Actors: Emile Hirsch, Christina Ricci, John Goodman, Susan Sarandon, Kick Gurry, Roger Allam, Matthew Fox
Speed Racer (Emile Hirsch) is an 18-year-old whose life and love has always been automobile racing. His parents Pops (John Goodman) and Mom (Susan Sarandon) run the independent Racer Motors, in which his brother Spritle (Paulie Litt), mechanic Sparky (Kick Gurry), and girlfriend Trixie (Christina Ricci) are also involved. As a child Speed idolized his record-setting older brother Rex Racer (Scott Porter), but Rex was disowned by Pops for his decision to join a corporate racing team and was publicly defamed for appearing to cheat in a race. He was then killed while racing in the Casa Cristo 5000, an incredibly intense cross-country racing rally notorious for rough and foul play. Now embarking on his own career, Speed Racer is quickly sweeping the racing world with his skill behind the wheel of the Mach 5, but remains primarily interested in the art of the race and the well-being of his family.
Mr. Royalton (Roger Allam), owner of conglomerate Royalton Industries, offers Speed an astoundingly luxurious lifestyle in exchange for signing to race with him. Speed is tempted but declines due to his father’s distrust of power-hungry corporations. Angered, Royalton reveals that for many years the key races have been fixed by by corporate interests, including Royalton himself, to gain profits. He threatens Speed’s career and family, making good on these threats by having his drivers force Speed into a crash that destroys the Mach 5 and bombarding his family’s business with lawsuits. Speed decides that he must do something to stop Royalton and save the Racer business, and an opportunity to do so arises in the form of Inspector Detector (Benno FÃ¼rmann), head of a corporate crimes division. Racer Taejo Togokhan (Rain) claims to have evidence that could indict Royalton but will only offer it up if Speed and the mysterious masked Racer X (Matthew Fox) agree to race on his team in the Casa Cristo 5000. Taejo believes that a win could substantially raise the stock price of his family’s racing business and thus cause a proposed Royalton-arranged buyout to be more expensive. Speed agrees but keeps his decision secret from his family.
Speed enters the Grand Prix against great odds: Royalton has placed a bounty on his head that the other drivers are eager to collect, and he is pitted against legendary Hall of Fame driver Cannonball Taylor (Ralph Herforth). Speed overcomes a slow start to catch up with Taylor, who uses a cheating device called a spearhook to latch Speed’s car to his. Speed uses his jump jacks to expose the device to video cameras and cause Taylor to crash. Speed wins the race, having successfully exposed Royalton’s crimes. Racer X, who is watching the race, reveals through a flashback montage that he is indeed Rex, having faked his death and undergone plastic surgery to change his appearance as part of his plan to save his family and the sport of racing. He chooses not to reveal his identity to his family, believing it would do more harm than good. The Racer family celebrates Speed’s victory as Speed and Trixie kiss, and Royalton is sent to jail.