Tesla's bid to buy struggling solar energy firm SolarCity has been called "shameful" by financier Jim Chanos, BBC reports.


Mr Chanos, who is betting against the shares of both firms, described the bid as a "shameful example of corporate governance at its worst".


Tesla made a $2.8bn (1.9bn) offer for SolarCity on Tuesday.


Tesla's chief executive Elon Musk said the deal, which will be paid for in Telsa shares, was a "no brainer".


The two firms have close ties.


Mr Musk owns 22% of SolarCity and sits on the company's board. SolarCity's chief executive Lyndon Rive and Mr Musk are cousins.


"As a combined automotive and power storage and power generation company, the potential is there for Tesla to be a trillion-dollar market cap company," Mr Musk said.


Photo: BBC

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