Humans would "drive" something, but a vehicle can't "drive" itself in English. "Ride" would simply mean that you are in the vehicle and not necessarily controlling it, e.g. I'm riding in the car or I'm riding a motorcycle. The best way to phrase your sentence is "A motorcycle was going very fast."

Your sentence is technically correct. A better, more natural way to say it would be, "A motorcycle was going very fast" or "The motorcycle was going very fast". For motorcycles and bicycles, when we are talking about a person (I, him, her, etc...) on a motorcycle, we say, "He was riding the motorcycle" or "She was riding the motorcycle very fast". Typically, we only say "drive" when we are referring to a 4 wheeled vehicle. You can say "He was driving the motorcycle very fast" and you will be 100% understood, but it won't sound 100% natural and is not the customary way of saying it. Hope this helps!