Elon Musk shares idea for vertical take-off electric plane

As the CEO of both Tesla and SpaceX, Elon Musk is responsible for groundbreaking changes in both the auto and space markets, but he may now be turning his eye towards aviation. When speaking at the Hyperloop Pod competition held over the weekend at Texas A&M University, Musk commented that the idea of an electric plane capable of taking off vertically is something he's been focusing on recently.

The comment was brief, and in response to a question about what challenge he might tackle next. This isn't the first time Musk has mentioned electric planes, revealing last October that he had an idea for a design, however nothing concrete has been presented at this point.

I have been thinking about the vertical takeoff and landing electric jet a bit more. I think I have something that might close. I'm quite tempted to do something about it.

The benefits of an airplane capable of vertical takeoff and landings (VTOL) are numerous, including the space saved that would've gone to a traditional runway. Not to mention that the electric factor would finally nix the need for expensive jet fuel.

Musk's full Q&A session can be seen in the 33-minute video above, with the comment about electric planes at the 18:00 mark.