Billionaire entrepreneur Elon Musk, unhappy with media coverage of Tesla Inc., said he plans to create a Yelp.com-like site to let people rate the credibility of journalists and news organizations, and suggested he would name it after the former Soviet Union’s main propaganda outlet.

The Tesla chief executive, who frequently issues provocative comments on Twitter, made the proposal in a tweetstorm against the media Wednesday, after reports in recent weeks about Tesla’s struggles to increase production of its Model 3 sedan,...