Police said officers conducting speed checks late Tuesday stopped the driver on the Hume Highway near the New South Wales town of Mittagong after clocking him allegedly driving at almost two-and-a-half times the 110kph limit.
They said the driver's turbo-charged 1995 car had a body kit secured with cable ties, an unsecured dashboard and a battery held in place with a rag and bracket.
The car's interior smelled strongly of petrol fumes when officers inspected the vehicle, police said.
They said the 21-year-old driver, who allegedly told police he had spent the day at the races, had been charged with driving at a speed dangerous to the public and was due to appear in court on June 16.