Indeed, for the record, Virgin is engaged in the space race (with commercial flights) via the Virgin Galactic program such as Elon Musk with SpaceX that sells space launches to the NASA!
But Virgin is also engaged in the Formula E, they intend to capitalize on the experience gained with the electric car to explore the viability of an electric vehicle developed by the group, Branson has indicated that “teams of people” are working on electric car projects, therefore, it is underway but so far no details on the range, performance or horizon!
The war is not declared yet as Branson reckoned that Tesla had managed to make electric cars as sexy as the others !!
"We have teams of people working on electric cars," Branson said. "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."