Richard Branson built some great businesses. I am not aware of his contribution to new technologies, but I could be wrong and will accept correction.
Tesla has some new technologies at the heart of their business, battery powertrain and tech control system. Both technologies were conceived, built and developed in-house. Business of manufacturing cars was built around these technologies.
Perhaps the best way RB can contribute to ev development is not as a Tesla competitor but as a partner and investor.
If he competes with Tesla he would act from the position of weakness. There is no way that any future Virgin car can come even close to Tesla, there is a huge technological gap that is not closing but widening by the day.
If he acts on his strengths, he may be able to feed directly into Tesla's weakness by providing sound guidance on business expansion and development and new markets penetration.
Just checked some articles on the subject and had to chuckle (happy) - the tone of all articles is that RB is trying to chase EM. Elon seems to be pushing the bar for everyone
Tesla has gone a long, long way