Toyota is reportedly donating $1 million to Donald Trump’s inauguration. This follows similar $1 million contributions from Ford, General Motors, Amazon, and Meta, as large companies seek to cultivate a positive relationship with the incoming president. OpenAI CEO Sam Altman has also pledged a personal donation of $1 million. The report, from Reuters, citing a company spokesperson, comes a day after Ford and General Motors announced their donations, along with the provision of vehicles for the January 20th event.
These substantial donations come amidst concerns about Trump’s proposed tariffs on goods from Mexico and Canada, which could significantly impact automakers and disrupt supply chains. The president-elect’s campaign promises to end the “electric vehicle mandate” and eliminate tax incentives aimed at boosting EV production and sales pose further challenges to the already slowing EV transition in the US.
Ford CEO Jim Farley expressed enthusiasm about working with the Trump administration, emphasizing Ford’s significant employment and manufacturing presence in the US. General Motors CEO Mary Barra also voiced cautious optimism, suggesting alignment between the company’s goals and those of the incoming administration. Both executives highlighted the importance of a strong economy and domestic manufacturing.
The *New York Times* reports that Trump is offering additional perks to donors contributing at least $1 million, including invitations to inauguration-related events and dinners with Trump, his cabinet appointees, and incoming Vice President JD Vance.