Toyota said Wednesday it will donate $1 million (?150 million) for the inauguration ceremony of U.S. President-elect Donald Trump in January.

The company said that since the inauguration of a new president is a ¡°venerable tradition,¡± it is ¡°pleased to support¡± the event alongside many other companies to reflect the deepening of its presence in the U.S.

This will be the first time that Toyota has donated to a U.S. presidential inauguration ceremony.

Major American automakers, including Ford and General Motors (GM), have pledged $1 million each and will provide vehicles for the event. Prominent companies like Amazon and Meta (formerly Facebook) have also stepped forward with their own contributions, according to U.S. media reports.

After winning last month¡¯s presidential election, Trump unveiled plans to impose a 25% tariff on all imports from Mexico and Canada, triggering concerns from many automakers, including Toyota, that rely on Mexican production for the U.S. market. Toyota currently manufactures the Tacoma pickup truck in Mexico.

Trump will be sworn in on Jan. 20, marking the start of his second term ¡ª one of the most striking comebacks in U.S. political history.

While the day of inauguration is traditionally focused on ceremonial customs, Trump has pledged to swiftly sign several executive orders on key issues ranging from border security to oil and gas production on his first day in office.

Outgoing President Joe Biden has announced his intention to attend the ceremony and observe a peaceful transfer of power, in stark contrast to four years ago when Trump snubbed the inauguration after refusing to concede defeat. Thousands of ticketless spectators are expected to gather on the National Mall to watch the event on large video screens.

Trump has invited several foreign leaders to the ceremony, a break from tradition where diplomats have attended in place of heads of state due to security concerns.

Argentinian President Javier Milei, a staunch Trump supporter, plans to attend the inauguration ceremony. Despite receiving an invitation, Chinese President Xi Jinping is not expected to attend.