CHiPs (film) - Wikipedia

In Miami, FBI Agent Castillo takes down a crew of bank robbers. At the same time, former motocross racer Jon Baker enrolls in the California Highway Patrol Academy. Despite his low aptitude score across every field, Sgt. Gail Hernandez sympathizes with Jon, noting that he can ride a motorcycle better than the majority of cadets she has trained, so grants him a probationary graduation.

On a California highway, a crew of bikers attacks an armored van. One member, "LT", accuses the guard and his CHP closet boyfriend TJ of stealing from him. As punishment, LT informs TJ over the police frequency that he must choose who lives; he or his boyfriend. TJ ultimately kills himself.

In Miami, Castillo is informed that the CHP have requested the FBI's help in the armored van heist, believing that a corrupt police ring is involved. Given the alias Francis Llewellyn "Ponch" Poncherello, he is partnered up with Baker, before ostensibly paying their respects to TJ's widow at home. Baker notes that there is not a single commendation, picture or other effects a helicopter pilot would have in the house and precisely identifies the bikes used in the heist as the Ducati Hypermotard 939.

The bike gang makes another attempt on an armored van. The crew evade Ponch and Baker on the faster Ducatis after a lengthy chase through Elysian Park. LT, wary of Ponch's extensive investigations into the heists, finds out from his FBI contacts that he is undercover.

Ponch also obtains a potential lead on an apartment TJ tenanted, concluding that TJ must have been corrupt as it would not have been affordable on his salary. Sensing that something is still amiss, Ponch and Baker re-visit TJ's home. Though getting involved in a fight with Parish, Ponch recognizes that he is not in on the corrupt circle, after he suggests that "LT" in reality could stand for Lieutenant. They later arrive on the profile of Lieutenant Raymond Kurtz and, although suspecting him, have no evidence to pin him to the heists.

The FBI pick up on a promising lead to a drug house in Venice, prompting Ponch and Baker to respond. During a lengthy pursuit with one of the crew members, Officer Brian Grieves secretly informs LT that the suspect involved is his son. While crossing a bridge, the suspect is decapitated by a recovery vehicle's extended industrial wire. LT arrives and crashes into Baker who was in pursuit. Parish arrives in his police helicopter and airlifts an unconscious Baker to the hospital.

Petersen fires Ponch for disobeying his orders to stay far from the FBI's lead. Baker also discovers that his ex-wife Karen, who he had been living with, has sold the house while he was in the hospital without telling him. At Ponch's, Baker identifies the decapitated biker as former motocross racer Raymond Reed Kurtz Jr., who is revealed to be Ray's son, confirming their earlier suspicions.

Ray kidnaps Karen, holding her hostage at his safe house. Ponch and Baker rescue her as Officer Ava Perez arrives with back up, but are attacked by Ray's associates. Ray shoots off three of Ponch's fingers, leaving him unable to return fire, so he instead must rely on Baker's poor aim to retaliate.

Altering his aim to compensate, Baker accidentally detonates an explosive device that incapacitates Ray and his remaining guards, who Perez and the other Officers arrest. Ray comes to, but is reinforced by Officer Lindsey Taylor and then holds Baker at gunpoint. Ponch intervenes moments before Ray fires a shot into Baker's arm which ricochets off of a titanium implant and into Ray's head, killing him instantly.

Baker is loaded onto an ambulance to be treated for his injuries. Karen offers to join him in hospital, however he finally realizes how little she cares for him and declines her offer. Ponch is given morphine by a paramedic ('Poncho' from the original series aka Erik Estrada).

A final scene shows Poncho receiving a call from Peterson, who offers him his job back at the FBI. He refuses, preferring to stay in the CHP.