A controller and methods for controlling the speed of a vehicle having an electric motorized drive is provided. In one embodiment, a method involves determining a steady state average torque and a torque during acceleration or deceleration of the vehicle traveling over an underlying surface. Speed of the vehicle is controlled based on the steady state average torque, the torque during acceleration or deceleration the measured regeneration current generated by a motorized drive arrangement of the vehicle that applies torque to at least one ground-contacting element of the vehicle for traveling over the underlying surface, weight of the vehicle and payload, the torque applied to the ground-contacting element, acceleration of the vehicle and the speed of the vehicle.