Speed is in the exotic and mysterious city of Ambrosia, high in the Mystic Mountains on Lake Ripplelapps. It is the start of the Mystic Grand Prix. Piston Powers holds the pole position. Racer X is also in the race. Prince Snowier and Princess Gracious preside over the race, and Princess Gracious will signal the start. A sniper has the princess in his sights.

A reflection from one of the cars in the race distracts the sniper and he misses. He runs and Speed chases him in his supercharged formula one. The two wrestle on the roof of a building. Speed prevails and the gunman falls to his doom.

A secret meeting is being held in one of the suites on a train leaving Ambrosia. One of the men has the mirror that was used to distract the sniper. Among those suspected of using the mirror are Bearcat Stutz of the country of Pong Ping and Tailgate Jones of South Bosawania. The three most likely candidates are Rusty Muffle, Tailgate Crumple and Speed Racer.

Avalonia is the next stop, where the haza