Ci talk:1006370150
1) It's "racing" rather than "a speed contest" or "a race".
Wiktionary definition: [1]
In the Wikipedia article titled 竞速, races are referred to as 竞速比赛 rather than 竞速. E.g. 竞速比赛的形式: 除了像跑步这样完成距离的竞速比赛外，竞速比赛的任务也可以是在规定时间内，尽可能多的吃掉某种食物。 and 竞速比赛可以是不间断的从起点跑向终点。也可以分为几个不同的阶段，例如分为预赛、正赛和决赛。[2]
Another example: 車子，主要追求的是競速的快感， "With [remote-control] cars the focus tends to be on the exhilaration of racing."
2) "compete in speed" is a rather awkward wording for "race".
E.g. 她喜歡競速輪椅時與風追逐的快感。 "She loves the thrill of the wind chasing her when racing her wheelchair." (rather than "... when competing in speed with her wheelchair").