Commerce Secretary Lutnick Promoting Tesla On Fox News: 'We're All Going To Be Buying $30,000 Tesla Robots.' Anyone Who Doesn't Is 'Silly'

Commerce Secretary Howard Lutnick is publicly backing Tesla TSLA and its CEO, Elon Musk, on TV, sparking a wave of criticism from ethics experts, investors and public figures, including Tesla bull Gary Black.

Praising Musk and Tesla on Fox News

During a recent appearance on Fox News, Lutnick lavished praise on Musk, calling him “probably the best person to bet on I’ve ever met.” He claimed Tesla stock is massively undervalued and urged viewers to buy in. “It’ll never be this cheap again,” Lutnick said, adding that people will one day regret not purchasing Musk’s stock.

Lutnick: We are all going to be buying robots. They are going to cost around $30,000, you're going to be buying a Tesla robot and anybody who does not buy a Tesla robot is going to be silly. pic.twitter.com/f5coSJZPaY

— Acyn (@Acyn) March 20, 2025

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He went a step further, promoting Tesla’s upcoming humanoid robot Optimus, which he said would sell for about $30,000. “Anybody who does not have a Tesla robot will be silly,” Lutnick said. “They will mow our lawn and make us coffee and our bed… and renovate our bathroom. I’m telling you, we’re both going to have really nice bathrooms.”

Lutnick also promoted Musk’s robotaxi project, the Cybercab, suggesting both products would soon be part of everyday life.

Musk Tries to Temper Expectations

But even Musk himself has recently tried to lower the hype. In November, he said on X that a $30,000 price tag for either product would only be possible in the “long-term” and that Tesla would need to reach production volumes of over 1 million units per year. He did not clarify if that target applied individually or combined.

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Musk had previously said Optimus would be sold below $30,000 and that there could be one robot per person in the future. Still, he acknowledged earlier that only limited factory use is expected in 2025, with possible wider rollout by 2026. As for the Cybercab, it is still slated for production “before 2027.”

Ethics Experts Alarmed

Ethics watchdogs have voiced concern about Lutnick's public endorsements of Tesla.

“It’s an ethics issue, and it’s an optics issue,” said Jordan Libowitz, head of communications at Citizens for Responsibility and Ethics in Washington. “When someone spends hundreds of millions of dollars to elect a president and then that president's administration takes action that appears to be an attempt to boost that person's net worth.”

Richard Painter, ethics counsel under President George W. Bush, was even more direct: “The Commerce Secretary is not Jim Cramer.”

President Donald Trump has also repeatedly praised Musk and Tesla, recently posing in front of Teslas on the White House lawn and pledging to buy a Model S.

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Investors Urge Realism

Even Tesla bulls like Gary Black are cautioning against inflated expectations. Black, managing partner of The Future Fund, estimates that 500,000 Optimus robots by 2027 would add just $0.70 to Tesla's earnings per share.

“Every time I try to right-size expectations, I get pounded on by TSLA uberbulls,” he said on X. “TSLA has underperformed for the past three years because expectations were too high.”

He pointed out that Tesla's 2025 and 2026 earnings estimates have dropped 39% and 45%, respectively, over the past year.

Meanwhile, Bank of America values the Optimus segment at between $14 billion and $95 billion but sees greater long-term potential in Tesla's robotaxi and self-driving technology, which it says could eventually make up more than 75% of Tesla's value.

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