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Tesla Inc (NASDAQ:TSLA) mega-bull Cathie Wood in an interview with Barron’s said on Wednesday legacy automakers don’t have the genes to make it big in the electric vehicle universe and that the Elon Musk-led company could easily grab up to 25% automotive market share in five years. What Happened: Wood, who runs the popular money managing firm Ark Invest, said General Motors Co (NYSE:GM) and Ford Motor Co (NYSE:F) are setting aside billions to switchover from traditional gas-powered engines to electric vehicles but it may be too little and too late for them.
...read full article on Benzinga
