For VMAX the MAX should be subscript.
Font style should be something that looks sophisticated but can relate to motorsports loosely while still looking professional.
You can try to incorporate engine components; pistons, connecting rods, crankshafts, valvetrains, so on and so forth.
If you decide not to go with that route you can implement any type of design style to illustrate the effect of going top speed.
Note: The logo will need to have the ability to be divided up into two individual layouts, one that is strictly horizontal as one line (for decals), and one that will have VMAX on top and engineering below it.
Will need to have the logo with a transparent background. The file will also need to be vector based so that it can be used to brand photography, be used on the website, modified for the online store, used for movies, et cetera.
For additional ideas I've also uploaded a few pictures of components that we've taken that can possibly give you ideas on designs.