Branson planning to compete against Tesla and others.
Virgin group founder Richard Branson has announced that his company is working on electric cars to compete against US based electric car titan Tesla and others.
Bloomberg TV cited Branson as saying: "We have teams of people working on electric cars.
"So you never know — you may find Virgin competing with the Tesla in the car business as we do in the space business. We will see what happens."
The revelation came at the Formula E race, a Formula 1 spin-off featuring battery-powered racecars, where Virgin Racing team competed against other champions.
Electric cars are not the only field where Virgin is competing against Tesla, as commercial spaceflight company Virgin Galactic competes with SpaceX, which was founded by Tesla CEO Elon Musk.
Branson added: "Tesla is as sexy as any other car on the road today."
With the announcement, Virgin joins the ranks of Google, which has already demonstrated its self-driving technology and Apple, which is also reportedly venturing into the competitive car market with its own self-driving cars.