Toyota is reportedly set to contribute $1 million to Donald Trump’s inauguration, according to a company spokesperson cited by media. This announcement follows similar $1 million pledges from Ford and General Motors, who also plan to supply vehicles for the January 20 event.
These corporate donations align with contributions from Amazon and Meta, signaling an effort by major companies to gain favor with the incoming administration. OpenAI CEO Sam Altman has also pledged a personal donation of $1 million.
Trump’s proposed tariffs on imports from Mexico and Canada are expected to impact automakers significantly, potentially causing supply chain disruptions across the industry. Additionally, the president-elect has vowed to rescind Joe Biden’s “electric vehicle mandate” on his first day in office.
Reports indicate Trump’s transition team plans to eliminate a tax incentive designed to promote electric vehicle production and sales, a move that could further stall the EV sector’s progress in the U.S.
Ford CEO Jim Farley recently expressed enthusiasm about collaborating with the new administration, emphasizing the importance of supporting American manufacturing. “Given Ford’s role in the U.S. economy, we expect the administration to value our perspective,” Farley said.
General Motors CEO Mary Barra shared a similar sentiment, describing Trump and the automaker as “goal-aligned.” “We share common objectives like fostering a strong economy and bolstering the manufacturing base,” Barra told the Detroit Free Press.
To incentivize contributions, Trump is offering perks to donors who give $1 million or more, including exclusive tickets to inauguration events, dinners with Trump, his cabinet nominees, and incoming vice president JD Vance.
