At a meeting of the League of Countries, Chief Zuma, the representative from Kapetapek, announces his government's decision to close its borders to the outside world. An official proposes that if Kapetapek's racecar driver, named Kabala, beats Speed Racer, then its borders can remain closed. At the racetrack, Speed receives an invitation to the Fire Festival Race. Speed finds this peculiar because Kapetepec doesn't have a racetrack and Kabala has been missing for a long time. Nevertheless, Speed and company arrive in Kapetapek. They spot Racer X, who was also invited.
That night Chief Zuma lets it be known that "the winner of the race will be bridegroom" to his granddaughter, Princess Silvana. He points out Speed as the probably winner. But when a jealous Trixie makes it clear that Speed is taken, another driver, Mr. Kadar, steps forward with his offer of matrimony. Later, Mr. Kadar captures the Princess and demands to know where the country's treasure is hidden. Speed comes to her rescue.
The next day, the racers and their cars are carried by raft to a secret entrance in a volcanic mountain. The racers drive through a tunnel to an ancient city with bejeweled statues. The race is set to begin once the volcano erupts. An official announces that the cars will drive through 800 miles of volcanic tunnel. Whoever reaches the exit before the split in the mountain closes will win. Amid falling debris, an unsteady terrain, and the threat of impending molten lava, the drivers line up. Kabala shows up and the race begins.
- Peter Fernandez: Speed Racer, Racer X
- Corinne Orr: Trixie, Spritle Racer, Princess Silvana
- Jack Grimes: Sparky, Chim Chim
- Jack Curtis: Pops Racer, Chief Zuma
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