Toyota donating $1m to Donald Trump’s inauguration – report
Toyota is reportedly donating $1m to Donald Trump’s inauguration.
The report, per Reuters citing a company spokesperson, comes one day after Ford and General Motors said they would donate $1m each to the president-elect’s inaugural fund. The two US automakers will also provide vehicles to the 20 January event, the outlet reported.
The donations follow similar $1m contributions by Amazon and Meta as large companies look to cozy up to Trump in return for favorable treatment after he is in office. OpenAI CEO Sam Altman has also said he would make a personal donation of $1m.
Trump’s proposed tariffs on goods from Mexico and Canada would affect many automakers and could deliver supply chain shocks across the auto industry.
The incoming president campaigned on ending what he called Joe Biden’s “electric vehicle mandate” on day one of returning to the White House.
Trump’s transition team is reportedly planning to kill a tax incentive aimed at boosting production and sales of EVs that could have grave implications for an already stalling EV transition in US.
Ford’s CEO Jim Farley told reporters earlier this month he was excited about working with the incoming administration “to make sure that we’re rewarded for our commitment to America and Michigan”.
“[Given] Ford’s employment profile and importance in the US economy and manufacturing, you can imagine the administration will be very interested in Ford’s point of view,” he said.
General Motors CEO Mary Barra also expressed cautious optimism and said she believed the company and Trump were “goal-aligned”.
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“We want a strong economy. We want a strong manufacturing base in this country. We agree automotive jobs are important. I think there’s a lot that we could work on,” Barra said, according to the Detroit Free Press.
Trump is offering bonus perks to donors who give at least $1m, including tickets to activities planned around the inauguration, such as dinners with Trump, his cabinet picks and incoming vice-president JD Vance, according to the New York Times.
