Major global automakers have pledged to donate approximately $1 million to President-elect Donald Trump’s inauguration ceremony.
According to Electrek on Thursday, Ford, General Motors (GM), and Toyota North America each committed $1 million to Trump’s inauguration ceremony and will provide vehicles for the event. Trump is scheduled to be inaugurated on January 20, 2025.
Ford CEO Jim Farley expressed optimism that Trump could support traditional automakers facing electric vehicle (EV) production and sales challenges. Given Ford’s role in employment, its significance to the U.S. economy, and its impact on manufacturing, he noted that the incoming Trump administration will likely show considerable interest in Ford’s perspective.
GM CEO Mary Barra noted that the company’s goals align with Trump’s. She emphasized the importance of a strong economy, a robust manufacturing base in the U.S., and the value of automotive jobs. She highlighted several areas where collaboration could be possible.
Meanwhile, Trump’s transition team is reportedly reviewing measures to cut funding for EV subsidies and charging station budgets stipulated by the Inflation Reduction Act (IRA). The IRA currently provides subsidies of up to $7,500 per EV. The team also considers restricting imports of Chinese-made cars, components, and battery materials.
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