Ford Motor Co (NYSE:F) is donating $1 million and a fleet of vehicles to U.S. President-elect Donald Trump’s January inauguration, a company spokesperson said on Monday.
Policies on tariffs and electric vehicles that are being considered by the incoming administration would likely affect Detroit carmakers like Ford, who are struggling to ramp up and sell their battery-powered models.
Republican Trump has proposed significant tariffs on imports from Mexico and Canada, as well as killing an EV tax credit that benefits Ford.
Ford CEO Jim Farley told reporters earlier this month he was optimistic that Trump would be open to hearing the U.S. automaker’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.
Other large companies, including Amazon and Meta Platforms, have also donated to the upcoming inauguration.
Trump raised a record $106.7 million for his 2017 festivities.
F shares inched ahead three cents to $9.92.