We don't yet have electric airplane racing happening, but that doesn't stop those who are building electric airplanes to see how fast or how far they can go.
French pilot Hugues Duval has built an electric conversion of a tiny single-seater Cri Cri airplane, and been working on speed records with it. The airplane has a wingspan of 16 feet, and a passenger compartment that looks to be little larger than the pilot. He's set it up with a pair of 35 horsepower electric motors and a 3 kilowatt-hour battery packs. The setup lets the airplane fly for 25 minutes.
In December he set a 162 miles/hr speed record, and in July at the Paris Air Show he bumped it up to 175 miles/hr.