By Nora Eckert and David Shepardson
DETROIT (Reuters) -U.S. automakers Ford Motor (NYSE:) and General Motors (NYSE:) will donate $1 million each, along with vehicles, to U.S. President-elect Donald Trump’s January inauguration, company spokespersons said on Monday.
Policies on tariffs and electric vehicles under consideration by the incoming administration would affect Detroit carmakers such as Ford, which is struggling to ramp up and sell its battery-powered models.
Republican Trump has proposed broad tariffs on imports from Mexico and Canada, as well as killing an EV tax credit that benefits Ford.
Ford CEO Jim Farley told reporters this month he was optimistic Trump would be open to hearing the company’s perspectives on these actions.
“(Given) Ford’s employment profile and importance in the U.S. economy and manufacturing, you can imagine the administration will be very interested in Ford’s point of view,” Farley said.
General Motors also said on Monday it is donating $1 million to the event and will provide vehicles.
Other large companies, including Amazon (NASDAQ:) and Meta Platforms (NASDAQ:), have also donated to the inauguration.
Trump raised a record $106.7 million for his 2017 festivities.
Democratic President Joe Biden raised $61.8 million for his 2021 inauguration, with contributions from companies including Pfizer (NYSE:), AT&T (NYSE:) and Boeing (NYSE:).
