The movie revolves around the formula 1 racing of the golden age in the 1970s that includes rivalry, passion and the desire to win. James Hunt, is a young Englishman and is a playboy while his rival Niki Lauda is an Australian and is entirely different from Hunt. Niki is calm, cool and a highly disciplined guy. Both of them are extremely skilled racing car drivers. The two develop rivalry when in the year 1970, in Formula three races held in Britain when both their cars spins and luckily James Hunt wins the race.
Lauda buys a team, the British racing motors formula one by taking bank loan. Hesketh racing of Hunt also makes a way into formula one. Hunt falls in love with a model named Suzy Miller, while Lauda gets into a relationship with a German Socialite. The 1976 formula one race begins and both Hunt and Laude are willing to do anything to win the race.