Do Virgin And Branson Have Plans Compete With Tesla?

Billionaire Richard Branson dropped a hint in a recent interview in Miami that the Virgin Group may have plans to compete with Tesla in the electric car market.

Virgin is not new to taking on new ventures and the British multinational conglomerate already has its mitts in industries like space, trains, planes, and mobile phones to name a few.

So, just the briefest of suggestions did make the news when Sir Branson said it might go head-to-head with Tesla.

The occasion was Branson was being interviewed trackside of his Formula E race series team when Bloomberg TV asked where Virgin envisions all of this leading.

“We have teams of people working on electric cars” Branson said. “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.”

Branson did not give more details about his people toiling away on their version of an electric car but if they are, it could make sense. Vague reports of Apple doing the same have been made though more has yet to be seen.

Further, actually entering the car business is a big deal, so one statement does not a vision make, but Branson’s hint was suggestive and when a billionaire speaks, people pay heed.

Judging by all of Virgin’s past successes, if there is an actual passenger car EV project in the works, it could have the potential and backing to become something stellar. We shall see if more specifics come forth.