The automaker is the most recent target of an anti-DEI push spearheaded by conservative activist Robby Starbuck. Since June, a mounting number of companies have pulled back on their corporate commitments to diversity,

Toyota has become the latest automaker to cut back on diversity, equity and inclusion initiatives. The company appears to want to avoid a “highly politicized discussion” about the issue as well as possible boycotts.

The automaker says it will halt sponsorship of LGBTQ events, joining other companies in backing down to an activist campaign.

CNBC's Becky Quick reports on the latest news.