Virgin is to enter a team for the first FIA Formula E Championship, which gets out of the grids next year.
The electric racing car series will take place on purpose-built street circuits in 10 cities around the world.
The Virgin Racing Formula E Team is headed by team principal Alex Tai and has the backing of Sir Richard Branson.
The announcement means just one more team is left to be announced before the inaugural 2014/2015 season gets under way.
The championship is intending to showcase electric car technology and speed up development and innovation amongst manufacturers.
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