In Pixar's Cars 2, Miles Axlerod is revealed as the villain behind the conspiracy.
Axlerod organizes the World Grand Prix and promotes Allinol, presenting the fuel as a clean alternative. The spy investigation eventually exposes his role in a plan involving electromagnetic weapons and the races. The conspiracy is designed to create fear about alternative fuel by causing cars using it to malfunction.
Before the reveal, Axlerod appears to be a wealthy former racer and energy entrepreneur. His public identity helps him control the event while hiding the larger scheme. The plot therefore places the apparent sponsor of the competition at the center of the threat.
Professor Zündapp is an important henchman and scientist, but he is not the mastermind. Finn McMissile is a British agent investigating the conspiracy, and Lewis Hamilton appears as a racing character rather than the villain.