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Electric cars: What if Richard Branson took on Tesla?

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Tesla is pretty much in a class of its own when it comes to electric cars, but things could change as reports indicate that billionaire and Virgin founder Richard Branson is showing more and more interest in the technology.

"We have teams of people working on electric cars," Branson told Bloomberg TV. "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."

If you recall, Tesla's Elon Musk has his SpaceX venture to rival Branson's Virgin Galactic.

Competition in the electric-car segment will intensify and be quite fascinating to watch in the next few years as Apple and Google also work on their own models. Most automakers have at least one battery-powered vehicle in their lineup, as well.

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