Adapt to the new technology? Kodak engineers invented it back in the 1970's, introduced the first commercial products in the late 1980's, was among the slate of the first consumer products in the mid 1990's, and was the market leader for much of the 2000's.
They ultimately underestimated the speed of the shift from film to digital (as well as the shift from discrete cameras to camera phones) and their diversification efforts were less successful than Fuji, but that doesn't change the fact they were the primary innovator in the field. For that matter, part of what hastened their demise was the lapse of their patents on digital photography in the late 2000's cutting off yet another revenue stream and increasing their competitors margins.
Also, unlike GM and Chrysler, Ford did not accept any TARP funds, though it did accept loans under a DOE program (with most of the funds earmarked for improving fuel efficiency).
But it really doesn't matter if Ford remains a market leader during it's transition. There are far more and far bigger automakers in the world and they are all aggressively pursuing electrification at this point. This is not Tesla v. Ford; it's Tesla v. Toyota v. GM v. Volkswagen v. Nissan-Renault v. Hyundai-Kia v. Ford v. Fiat-Chrystler v. Honda v. Peugot Citrogen v. BMW v. all the other smaller players or new entrants to the market.
In other words the challenge for Tesla is not whether they can best any particular competitor, but if they can maintain market dominance in face of the inevitable commodification of EVs. A better analogue is probably Tivo, who has become a relatively small player in the product segment they largely created.