You could, but I don’t think it answers the problem. The hypothesis test you wrote will only check whether the Lightning9 top speed is significantly different from the stated value of 700km/h. The problem wants you to make a hypothesis test to see if Lightning9 top speed will “outperform the existing competitors in the market”. That is, if Lightning9 top speed is significantly higher than the competition.
However, the problem doesn’t give you the top speed of the competition, so it’s not possible to make a formal hypothesis test for the stated problem. For reference, if the competition top speed was M, then your test would be something like
H0: Lightning9 topspeed = M
H1: Lightning9 topspeed > M
(the null hypothesis is that Lightning9 is no faster than the competition. The alternative hypothesis is that Lightning9 is significantly faster than the competition)