Report comes day after Ford and GM said they\u2019d donate $1m each as big companies look to cozy up with president-elect<\/p>\n\n\n\n
Toyota is reportedly donating $1m to Donald Trump\u2019s inauguration.<\/p>\n\n\n\n
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\u2019s inaugural fund. The two US automakers will also provide vehicles to the 20 January event, the outlet reported.<\/p>\n\n\n\n
The donations follow similar $1m contributions by Amazon<\/a> and Meta<\/a> 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.<\/p>\n\n\n\n Trump\u2019s proposed tariffs<\/a> on goods from Mexico and Canada would affect\u2002<\/a>many automakers and could deliver supply chain shocks across the auto industry.<\/p>\n\n\n\n The incoming president campaigned on ending what he called Joe Biden\u2019s \u201celectric vehicle mandate\u201d on day one of returning to the White House.<\/p>\n\n\n\n Trump\u2019s transition team is reportedly planning<\/a> 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.<\/p>\n\n\n\n Ford\u2019s CEO Jim Farley told reporters earlier this month he was excited about working with the incoming administration \u201cto make sure that we\u2019re rewarded for our commitment to America and Michigan\u201d.<\/p>\n\n\n\n \u201c[Given] Ford\u2019s employment profile and importance in the US economy and manufacturing, you can imagine the administration will be very interested in Ford\u2019s point of view,\u201d he said.<\/p>\n\n\n\n General Motors CEO Mary Barra also expressed cautious optimism and said she believed the company and Trump were \u201cgoal-aligned\u201d.<\/p>\n\n\n\n \u201cWe want a strong economy. We want a strong manufacturing base in this country. We agree automotive jobs are important. I think there\u2019s a lot that we could work on,\u201d Barra said, according to the Detroit Free Press<\/a>.<\/p>\n\n\n\n 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<\/a>, according to the New York Times<\/a>.<\/p>\n\n\n\n