In Pixar's Cars 2, what global racing event do the characters compete in?

Pixar's Cars 2 centers on the World Grand Prix.

The fictional event is organized by Miles Axlerod to promote Allinol, an alternative fuel. Races take place in Tokyo, Porto Corsa, and London, giving the sequel an international spy-adventure setting far beyond Radiator Springs.

Lightning McQueen enters the competition, while Mater becomes involved in an espionage plot after being mistaken for an American secret agent. The film combines racing with parody elements inspired by James Bond-style spy stories.

Cars 2 was directed by John Lasseter and Brad Lewis. It was released in 2011 as Pixar's twelfth feature film and was the first Pixar movie to make Mater the central character of the story.