(CNN) – Ford is donating $1 million to the inauguration of President-elect Donald Trump.
The Detroit automaker is also gifting a fleet of vehicles along with the cash gift.
Ford’s gift comes as Trump’s proposed policies could have a significant impact on the company.
The $75,000 EV tax credit, which incentivizes auto buyers to purchase an electric vehicle, could vanish under the Trump Administration.
Ford is struggling to make a profit selling electric cars unlike Tesla, which is owned by Trump’s richest ally, Elon Musk.
Trump’s proposed tariffs would also hit the U.S. auto industry in general, as the different parts and materials for vehicles are produced all around the world.
Ford is the latest company to make a $1 million donation to Trump’s inauguration.
Amazon and Meta recently announced their own contributions.
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