Richard Branson’s Virgin Group announced plans to enter a team in the Formula E racing series—the world’s first all-electric auto races, which are scheduled to begin next fall in Beijing. “The launch of the Formula E Championship is exciting news for racing fans but also for those that believe in developing the great electric cars of the future,” Branson said. “The need to create fast, dependable and durable race cars will help to accelerate the sector and showcase electric cars to a large global audience.” Read more about it and see an image of the car here.