To be exact, the limit for bikes and cars in Europe has been (voluntarily) set to 250 kmh. Few manufacturers are willing to exceed that limit for street-legal vehicles, however, as the monkey said, chip tuning kits are available if you want to squeeze the last bit of speed or power from your vehicle, at the risk of having your warranty voided if the engine goes poof or having your insurance not cover everything if you go splat.
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