The movie concerns Theodore Rimspoke and his two assistants, the optimistic Sonny Duckworth, the bird with the muffler, felt gumboots and indifferent morals, and Lambert, the somewhat pessimistic, melancholic and cautious hedgehog.
The trio inhabit an airy and lush environment at the top of Pinchcliffe, where they earn a living repairing bicycles, making new inventions and manufacturing computerised flagpoles for the Swiss Navy! But then one day, dramatic events take hold! On TV they see that Theodore's former assistant, Rudolph Gore-Slimey, has swiped one of Theodore's great inventions, the super retometric distributor! ...a gadget that increases the corradial effect by 112%! With the aid of this, he has become a world champion Formula 1 driver, and is now challenging any contender to a race.
In spite of Lambert's dire warnings, but inspired by Sonny's enthusiasm and pluck, and backed by Oil Sheikh Abdul Ben Bonanza's money, Theodore sets to work finishing the racing car Il Tempo Gigante - a fabulous construction with two engines, radar and its own blood bank.
But before it is finished, it suffers vandalism at the hands of Gore-Slimey and his clairvoyant assistant, Eliaza Cassandra. This has disastrous results when they take their place on the starting line for the great international Grand Prix event in the town of Pinchcliffe. But the thrilling car race ends with a victory for our friends, thanks to Lambert's somewhat involuntary courage and cunning at a critical moment.
This totally sensational victory and world fame do not, however, affect Theodore's, Sonny's and Lambert's life. Afterwards they are back at their daily chores, repairing bicycles, making new inventions and manufacturing computerised flagpoles for the Swiss Navy.