Elon Musk said Tesla Inc. needs to build and operate what he is calling a “TeraFab” to manufacture semiconductors, a massive undertaking that will cost billions of dollars and mark another expansion beyond what had been the company’s core electric vehicle business.

As Elon Musk tried to paint a promising 2026 for Tesla for investors on Wednesday with a future for robots and self-driving vehicles that can operate safely without human intervention, the cold hard n...

Happily for Tesla, double-digit growth in its energy storage business ($3.8 billion, an increase of 25 percent) and services ($3.4 billion, an increase of 18 percent) made up some of the shortfall.