Tesla Motors Inc (NASDAQ:TSLA) and its one-man publicity machine boss Elon Musk may just get a new rival soon in the form of the Virgin Group and its one-man publicity machine boss Sir Richard Branson.
In a report, Bloomberg notes that Branson, the “publicity-loving billionaire who loves fast things,” just left the door wide open to the possibility that his multinational empire will eventually compete with Tesla Motors Inc (NASDAQ:TSLA) in the field of electric cars for consumers.
“When you’ve got tens of millions of dollars being invested to win a sport, new breakthroughs happen which will then be put to use in normal cars,” Branson said in an interview.
Branson made the comment at the sidelines of the Formula E race in Miami. Virgin Racing, Virgin Group’s race team, was competing at the event which is an offshoot of Formula 1 that focuses on all-electric hyper race cars.
“We have teams of people trying to develop and working on electric cars. So you never know—you may well find Virgin competing with the Tesla in the car business as we do in the space business. We will see what happens,” Branson added.
If that’s the case, Tesla Motors Inc (NASDAQ:TSLA) may well find its space more exciting in the future as Sir Richard Branson is not exactly known for his timid personality.
For now, however, it looks that the eclectic and controversial billionaire is very much in love with electric cars for the race circuit. He told Bloomberg that aside from the missing roar of the powerful engines in Formula 1 cars, watching and competing in Formula E is just as exciting.
David E. Shaw’s D.E. Shaw & Co., L.P. increased its Tesla Motors Inc (NASDAQ:TSLA) stake by 64% quarter over quarter by the end of the December quarter to 25,738 shares.
I just made 84% in 4 days by blindly imitating a hedge fund’s stock pick. I will tell you how I pulled such a huge return in such a short time but let me first explain in this FREE REPORT why following hedge funds’ stock picks is one of the smartest things you can do as an investor. We launched our quarterly newsletter 2.5 years ago and not one subscriber has, since, said ‘I lost money by EXACTLY following your stock picks’. The reason is simple. You can beat index funds by creating a DREAM TEAM of hedge fund managers and investing in only their best ideas. I just made 84% in 4 days by blindly imitating one of these best ideas. CLICK HERE NOW for all the details.