The EV company run by Elon Musk reported Wednesday that net income last year dropped 46% to $3.8 billion. Officials said Tesla would spend big on AI and others new projects this year, more than doubling capital expenditures to $20 billion. Musk said that European regulators would approve its partial self-driving software in the first three months last year, a potential big boost to Tesla sales there. And a strong revival in sales Musk heralded midway through the year also failed to materialize. The robotaxi program has progressed slowly, which Musk told investors is due to Tesla being extremely cautious to avoid mishaps.