Tesla’s CEO, Elon Musk recently won a $50 million bet for building up the world’s largest lithium-ion battery within 100 days.

Not many days ago, Australia went through a power outage. After looking at the fault, Musk claimed that he will manufacture a 100mW battery within 100 days; otherwise he would sell it for free. The bet was put up against Mike Cannon-Brookes – the billionaire and founder of Atlassian – and Musk successfully won the bet by creating the battery in just 60 days.

Australia has been facing power breakdown issues since quite a long time with last year being the worst. Cannon-Brookes challenged Musk on Twitter back in March to come up with a solution for the problem and Musk accepted the challenge.

Elon Musk’s Tesla to build world’s largest battery in Australia

Business Insider reported that once the battery, Tesla’s Powerpack, is completely charged, it contains enough power for 8,000 homes for 24 hours, or over 30,000 homes for an hour during a blackout.

According to Fortune, Musk accepted the fact that if he lost the bet, it would cost him ‘probably $50 million or more’.

State premier Jay Weatherhill declared that the regulatory testing at its site would initiate in few days. He expressed, “It sends the clearest message that South Australia will be a leader in renewable energy with battery storage. An enormous amount of work has gone into delivering this project in such a short time, and I look forward to visiting Jamestown next week to personally thank those who have worked on this project.”