Virgin electric car – Branson’s next business?

Being a co-founder of the Virgin Group, Richard Branson has an incredibly diverse investment portfolio.

Branson’s venture history includes a commercial space flight company, a megastore chain, a telecommunications retailer, and a record label. In fact, if you can think of a business, Branson has probably dipped his hands into it.

Virgin electric car speculations

Virgin’s next foray appears to be less aggressive than going into space, but it is also very intriguing. Last March, Branson said he may begin development on a commercial Virgin electric car.

“We have teams of people working on electric cars,” says Branson. “So you never know — you may find a Virgin electric car competing with Tesla in the car business as we do in the space business. We will see what happens,” he adds.

Do not be mistaken. Branson’s statements are not official in any way, but Branson has a history of acting on wild ideas.

Pioneering commercial electric cars and competing with Elon Musk is not really far-fetched considering Branson’s reputation and resources. The two billionaires have access to enormous amounts of revenue and are already competing in outer-space travel.

Branson has already invested significant time and money into a Virgin electric car. However, his investments are restricted to the race track, and not the public roads. He owns a racing team in formula E, a Formula One spinoff that utilises all-electric race cars.

Branson has a reputation for taking large risks to enter new markets. He also loves to break world records. So, he may bring this aggressive attitude into the Virgin electric car market.

Advertisment - Learn more

The present situation is akin to that of the early days of the car industry, in which competition bred a lot of innovation. If that is true on the race track, it is truer on the streets.

Global innovation powerhouse Apple have also thrown their hat in the ring with speculations that Apple has formulated a team to develop an Apple car to start production by 2020.

Currently, Tesla appears to own the electric car market. While other auto manufacturers are making leaps and bounds in developing new electric vehicles, Tesla has an already established position in the market. When it comes to driving range, no car manufacturer can seem to beat Tesla.

Perhaps Branson is right. Maybe it is now time for another corporate giant to compete with Tesla.

The Author

Motivated and dynamic journalist with a strong interest in sustainable solar powered technology. My work in journalism and new media has provided me with a medium to produce content concerning emerging renewable energy.

×

Michael from Thuringowa Central, Queensland asked for 3 quotes for solar about 5 hours ago!

michael from Glencoe, New South Wales asked for 3 quotes for solar about 13 hours ago!

Kylie from Lammermoor, QLD asked for 3 quotes for solar 1 day ago!

John from Tanah Merah, QLD asked for 3 quotes for solar 1 day ago!

James from Lota, QLD asked for 3 quotes for solar 1 day ago!

Tony from Kensington Grove, QLD asked for 3 quotes for solar 1 day ago!

Michelle from Oak Valley, Queensland asked for 3 quotes for solar 1 day ago!

Tanya from Kingston, Queensland asked for 3 quotes for solar 1 day ago!

Tracey from Mooroolbark, Victoria asked for 3 quotes for solar 1 day ago!

Kris from Dimbulah, Queensland asked for 3 quotes for solar 2 days ago!

Barbara from Bass, Victoria asked for 3 quotes for solar 2 days ago!

GAyle from Point Cook, Victoria asked for 3 quotes for solar 2 days ago!

Sue from Witta, Queensland asked for 3 quotes for solar 2 days ago!

Cj from Toomulla, Queensland asked for 3 quotes for solar 2 days ago!

Ilyas from Narre Warren South, Victoria asked for 3 quotes for solar 2 days ago!

Lesley from Andergrove, Queensland asked for 3 quotes for solar 2 days ago!

Sailesh from Werribee, Victoria asked for 3 quotes for solar 2 days ago!

Tanya from Beaconsfield, Queensland asked for 3 quotes for solar 2 days ago!

Anna from Seymour, Victoria asked for 3 quotes for solar 2 days ago!

matti from Innisfail, Queensland asked for 3 quotes for solar 2 days ago!