Decoding the Intricate Network of EV Startups and Controversial Backers

challenges in Financing Early Electric Vehicle Innovators

Back in 2017, Lucid Motors, a rising star in the electric vehicle industry, was actively pursuing a Series D funding round. The company approached Ford to lead this investment. Though, Jia Yueting-the founder of rival EV startup faraday Future-had quietly secured nearly 30% ownership in Lucid, effectively blocking new investors from entering the round.

This deadlock created an prospect for david Stern-a discreet businessman with connections to former Prince Andrew-to intervene by involving Jeffrey Epstein.

A Contentious Alliance Takes Shape

Stern engaged Epstein regarding ford’s potential $400 million lead investment in Lucid’s Series D financing. He painted Jia as struggling financially at Faraday Future and needing to liquidate assets rapidly just to meet payroll obligations across his ventures. Despite these efforts, Ford ultimately withdrew from the deal.

The Series D round for Lucid finally closed toward the end of 2018 after raising over $1 billion from Saudi Arabia’s Public Investment Fund. Simultaneously occurring, Faraday Future secured considerable backing later that year from Evergrande Group-a major Chinese real estate conglomerate.

The Expanding Electric Vehicle Landscape: Diverse Players Entering the Market

The mid-2010s witnessed a surge of interest from both established automakers and startups eager to capitalize on electric and autonomous vehicle technologies-fueled by Tesla’s market disruption and advances led by companies like Waymo. Stern sought to leverage this momentum by proposing investments not only in Lucid but also Faraday Future and Canoo thru Epstein’s network.

While no direct evidence shows Epstein invested personally in these ventures, his involvement highlights his extensive reach within Silicon Valley’s startup ecosystem before his arrest and death in 2019.

An Enigmatic Power Broker Behind High-Profile Connections

Stern remains a shadowy figure with limited public data until recently uncovered documents shed light on his activities. He gained some recognition as director of Prince Andrew’s Pitch@Palace initiative-a startup competition that ended following revelations about Andrew’s ties with Epstein. Prince Andrew once described Stern as a “ghost” due to his low-profile yet influential role within their circle.

A Global Background Shaping Enterprising Ventures

A German national educated at University of London and Shi-Da University (China), Stern built expertise connecting Western corporations with Chinese enterprises. His career included negotiating industrial joint ventures for Siemens alongside Chinese state-owned firms and working at Deutsche Bank’s Shanghai office before founding Asia Gateway-a consultancy advising governments and multinational companies on growth strategies throughout Asia.

This experience enabled him to forge relationships with powerful figures such as Li Botan-the son-in-law of one of China’s top leaders during Hu Jintao’s governance-and others who later became key investors alongside him in startups like Canoo.

A Decade-Long Partnership with Jeffrey Epstein Unveiled

Stern first contacted Epstein around 2008 while launching AGC Capital-a fund targeting opportunities amid China’s rapid economic growth-just weeks before Epstein pleaded guilty on charges related to soliciting minors.
Although how they initially met remains unclear-and whether Epstein invested instantly-their correspondence reveals both friction over business details (Epstein once sharply criticized Stern’s deal readiness) as well as growing personal trust.
Stern even asked if epstein would be godfather to one of his children; though honored, Epstein declined due to prior commitments.
Their partnership spanned multiple sectors including farmland acquisitions in Russia; attempts at acquiring media outlets such as Al Jazeera; negotiations around purchasing music publisher EMI; interests in distressed undersea cable firms; bids for banks including Luxembourg-based Sal.Oppenheim-and even discussions about buying Deutsche Bank itself.
Stern frequently name-dropped influential contacts-from arranging meetings between JPMorgan executive Jes Staley and Malaysian politician Anwar Ibrahim (who later became prime minister) -to claiming dinners with Jack Ma or private talks with UAE President Mohamed bin Zayed Al Nahyan-all underscoring access few could match during that era.

Navigating Growth Amidst Electric vehicle Industry Expansion: From Faraday Future To Canoo

by mid-2017-with global EV sales projected by BloombergNEF to exceed 10 million units annually by 2025-Stern concentrated heavily on electric car startups.
He attempted facilitating introductions between Jeffrey Epstein and Jia Yueting (Faraday Future founder), although it is uncertain if those talks progressed further.
Former BMW CFO Stefan Krause was brought into stabilize Faraday Future finances-emailing directly about FF being “starving” yet holding promise akin to building “a better Tesla.” Krause had professional ties with Stern but did not publicly comment on these communications.
When investment discussions faltered, Monstera capital ,founded by stern himself, proposed acquiring Jia’s roughly 32% stake ,labeling it a “fire sale,” intending either long-term holding or resale upon Ford entering-but eventually Ford exited negotiations entirely.

Canoo: International Investors Amid Security Concerns

Krause departed Faraday late that year aiming toward another venture initially called Evelozcity which evolved into Canoo-with early financial support including $1 million from Stern plus meaningful contributions from Li Botan (the CCP-linked investor) along with Taiwanese billionaire Michael Chiang who leads electronics manufacturer TPK Holdings.
Li Botan’s involvement triggered U.S national security scrutiny when Canoo went public via SPAC merger amid escalating geopolitical tensions between China and the U.S., especially post-pandemic onset after 2020.
Though never directly funded by Epstein, he promoted Canoo among high-profile acquaintances such as wellness expert Deepak Chopra-in May 2018 suggesting integration between health sensor technology inside vehicles-and Italian agricultural machinery executive Eduardo Teodorani shortly before privately connecting him via Qatari royal family member Sheikh Jabor al Thani days ahead of his own arrest later that month

The Closing chapter: Questions Persist Over Influence And Legacy

A week after introducing Teodorani through royal channels concerning the electric car company chance,Jeffrey Epstein was detained again;a month later he died under controversial circumstances while incarcerated leaving many unresolved questions about ongoing business dealings involving David Stern
Despite this suddStern continued tracking industry trends-as shown when he forwarded Warren Buffett commentary emphasizing america’s future reliance on electric vehicles asking rhetorically how they might engage buffett himself

“Warren Buffett: Electric Cars Are Very Much In America’s future.” – forwarded message inquiry by David Stern in March 2019 asking “How do we get him??”