Is Virgin about to enter EV market?

Serial entrepreneur Sir Richard Branson has dropped a tantalizing hint he may be about to stamp his ubiquitous Virgin brand on the electric vehicle (EV) market.

Sir Richard was cornered by Bloomberg in Miami this week as his Virgin Racing team competed in the all-electric Formula E motorsports series and hinted he may set up as an EV rival to Tesla.

A report run by Bloomberg.com yesterday (Thursday) quoted Sir Richard as saying: "We have teams of people working on electric cars so you never know know, you may find Virgin competing with Tesla in the car business as we do in the space business. We will see what happens."

The British billionaire showcased his support for renewable energy last year when he signed off on a deal with NRG Energy to install a renewable energy microgrid to power the Necker Island which he owns in the British Virgin Islands chain, in the Caribbean.