New documents reveal Epstein’s ties to EV startup pitches

According to newly released documents, businessman David Stern repeatedly pitched investments in electric vehicle (EV) startups to Jeffrey Epstein. The pitches included opportunities in Faraday Future, Lucid Motors, and Canoo. The documents show how Stern built a relationship with Epstein and sought to draw him into the EV sector, highlighting the connections between these figures and the tech industry.

The correspondence between Stern and Epstein spanned from 2008 to 2018. During this relationship, which began with an initial approach in 2008, Stern attempted to secure funding for multiple EV ventures. This included trying to acquire a 30% stake in Lucid Motors at a time when the company was struggling to raise its Series D, which is a late-stage funding round. The dealmaking was highly opportunistic, focused on rapid financial gains rather than building sustainable companies. As TechCrunch reporter Sean noted, “It was all about how to make the most money the fastest.”

Stern also pitched investments in Canoo, an EV startup that came out of stealth—meaning it operated in secret before its public launch—in 2018. Stern was the third founding investor of Canoo. The investment activity occurred during a period, roughly 10 years ago, when Chinese capital was flowing into Silicon Valley’s mobility sector. Although Stern pitched these deals and maintained proximity to Epstein, Epstein never invested in any of the EV companies.

The files underscore how Epstein, an infamous sex offender who pleaded guilty to soliciting prostitution from a minor in 2008, maintained access to power and money in Silicon Valley. Despite being an infamous criminal, Epstein remained a source of connections for those seeking capital. The documents also touch on the potential involvement of Prince Andrew, who was associated with Stern and was involved with Canoo in some way, maybe advising or something. This proximity to such figures highlights a broader pattern in the tech sector’s funding landscape. As Sean observed, there are often figures operating at the margins of the investment landscape who prefer to avoid the spotlight.

Why it matters

The release of these documents highlights how infamous figures leveraged proximity to power to infiltrate emerging tech sectors like electric vehicles, revealing the ‘operator’ mindset behind high-stakes investment pitches.