A university based competition series for battery-powered electric racecars was established during 1994 with the primary objective of developing electric vehicle technology through the involvement of engineering schools. The Formula Lightning electric racecar is capable of speeds in excess of 225 km/hr (140 mi/hr). The competition events involve traditional multi-car races. This paper discusses the electric-propulsion system performance characteristics of the IUPUI Formula Lightning electric racecar during competition events. Specifically, actual performance data for lead-acid batteries operating in high-current discharge environments and thermodynamic data for a 3-phase AC induction motor operating in a regime above continuous rating level is reported.