With shares down by 22% over the last ten years, Ford Motor (NYSE: F) stock has been a colossal time waster for most shareholders, who would have been better off putting their money in a savings account. The legacy automaker stagnated at a time when rivals like Tesla (NASDAQ: TSLA) turned their early investors into millionaires.

Now Ford is trying to reinvent itself by betting on electric vehicles (EVs), a technology platform expected to become the future of the automotive industry. Let's dig deeper into what these efforts could mean for the company over the next five years and beyond.

According to analysts at Goldman Sachs, electric vehicles could rise to represent a whopping 50% of global car sales by 2035, with that number hitting 100% and 70%, respectively, in developed markets like the U.S. and E.U. Against this backdrop, it makes sense for legacy automakers to rapidly transition their business models around this new technology to maintain relevance and avoid losing long-term market share.

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Source Fool.com