Branson says Virgin working on electric cars: Bloomberg TV

Billionaire entrepreneur Richard Branson's Virgin Group may take on Tesla Motors Inc and other companies in developing electric cars, Bloomberg reported on Thursday. Branson, whose empire ranges from airlines to music stores, mobile phones and spaceships, said electric cars may be next. "We have teams of people working on electric cars," Branson told Bloomberg TV in Miami where his Virgin Racing team competed in the all-electric Formula E race that involves battery-powered cars.

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