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Velocitron was colonized by Transformers from the planet Cybertron long ago. Also, known as a the "Speed Planet", Velocitron's culture is centered around car racing.
Velocitron appears in Transformers: Exiles as one of Cybertron's lost colony worlds, where the people have developed racing as an alternative to the Gladitorial combat that came about on the decadent Cybertron.