Commerce Secretary Lutnick Endorses Tesla, Faces Ethics Backlash

Commerce Secretary Howard Lutnick's recent endorsement of Tesla and its CEO Elon Musk has sparked criticism from ethics experts and investors. During a Fox News appearance, Lutnick praised Musk and claimed that Tesla stock is undervalued, urging viewers to invest, stating, 'It’ll never be this cheap again.' He also touted Tesla's upcoming humanoid robot, Optimus, suggesting it would sell for around $30,000, and predicted that those without a Tesla robot would be 'silly.' However, Musk has tempered such claims, indicating that the $30,000 price point would only be achievable in the long term, requiring production levels of over one million units annually. The endorsement has raised concerns about potential conflicts of interest given Lutnick's position and the close ties between Musk and the Trump administration. Critics have pointed out the disparity between such high-tech visions and the realities faced by average Americans.