Atari have announced V8 Supercars: Create and Race for the Nintendo DS:

V8 Supercars: Create & Race has been designed from the ground up for Nintendo DS and lets players thrash the most formidable sports cars through closely-fought races on the world's most prestigious circuits... and then lets players create their very own circuits with a full track construction kit.

Making use of the Nintendo DS Wi-Fi connection capabilities, players can challenge others to races on the game's official tracks as well as the circuits of their creation. V8 Supercars: Create & Race also enables up to four players to go head-to-head in races gamesharing from only one cartridge.

There's a couple of screenshots as well.