definition

I think it refers to a driver who goes through an intersection before the red light has turned to green.

It could also mean that the driver goes through the intersection after the yellow light has changed to red. In the US, this is "running a red light."

In the UK, it refers to a cyclist who does not pay attention to the color of the signal light, they just ride through the intersection.

This needs some context. Without context, it could mean a number of things. My first thought is a very souped-up car that can peel off from a stop at a red light, just before it changes to green. There is also the vague suggestion of a prurient context. But context is needed, otherwise there's no way of pinning it down.