NEW: Driver killed in crash while racing another vehicle on PGBT in Richardson

The Texas Department of Public Safety has released additional information regarding the fatality accident Saturday afternoon on the President George Bush Turnpike.

At 4:04pm, multiple agencies responded to a single vehicle crash on eastbound PGBT near Custer Road in Richardson.

One vehicle was significantly damaged in the crash. The driver, 29-year-old man, was found deceased near the vehicle.

Officials say he was racing another vehicle at high speeds on the turnpike when he lost control and struck a metal guardrail. Several other drivers also reported seeing two vehicles racing at high speeds and weaving through traffic.

Eastbound lanes of the PGBT were closed for hours while troopers investigated the scene.

The investigation is ongoing at this time.