Yes it does but it depends on your bluetooth equipment. You need to have the modern standard Bluetooth Audio (A2DP). Speaking Email does not work with the older standard Bluetooth Hands-Free Profile (HFP).
You should set up your phone to play audio to a bluetooth output such as your car stereo, or bluetooth headset / earphones. You might need to check your device documentation / car manual to see how to complete a bluetooth pairing. Once you have paired your phone with the car stereo or other bluetooth device, do a quick test - for example, play music or a youtube video on your phone, and make sure you can hear the sound through the car speakers. Check the volume slider and mute button. Once that happens, Speaking Email will just speak normally through your bluetooth paired connection.