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With the legal battle between Tesla co-founder Elon Musk and Twitter going on, Musk teased a potential social media site of his own as a competitor for Twitter.

Responding back to a question from one of his followers on 10 August, Musk hinted at a potential new social media platform ''.

"I do sort of have a grander vision for what I thought X Corporation could have been back in the day. It's a pretty grand vision and of course that could be started from scratch but I think Twitter would accelerate that by three to five years," Musk had reportedly said.

ALSO READ: Elon Musk's legal team to question Twitter employees who count bots: Report

The new update is coming at a time when Musk decided to back out of the $44 billion takeover deal and Twitter sued him. Musk reached an acquisition agreement with Twitter at $54.20 per share in a transaction valued at approximately $44 billion.

However, the Tesla founder put the deal on hold in May to allow his team to review the veracity of Twitter's claim that less than 5 per cent of accounts on the platform are bots or spam.

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