Toyota is reportedly donating $1 million to Donald Trump’s inauguration, according to a report from Reuters citing a company spokesperson. This comes one day after Ford and General Motors announced they would each contribute $1 million to the president-elect’s inaugural fund. The two U.S. automakers will also provide vehicles for the January 20 event, the outlet reported.
These donations follow similar $1 million contributions from Amazon and Meta, as major companies seek to align with Trump in exchange for favorable treatment once he takes office. OpenAI CEO Sam Altman has also pledged a personal $1 million donation. Trump’s proposed tariffs on goods from Mexico and Canada could impact many automakers, potentially causing supply chain disruptions across the industry.
The incoming president campaigned on ending what he described as Joe Biden’s “electric vehicle mandate” on his first day back in the White House. Trump’s transition team is reportedly planning to eliminate a tax incentive aimed at boosting EV production and sales, which could have serious consequences for an already stalling EV transition in the U.S.
Ford CEO Jim Farley expressed excitement about working with the incoming administration to ensure the company is “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 voiced cautious optimism, stating she believed the company and Trump were “goal-aligned.” “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 additional perks to donors who contribute at least $1 million, 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.
