Elon Musk Won a $50 Million Bet for Building the World’s Largest Lithium-ion Battery

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Elon Musk has delivered on his promise to construct the world’s largest lithium-ion battery within 100 days.

After making a bet on Twitter last March with Atlassian’s Mike Cannon-Brookes, the Tesla CEO wagered that if he didn’t complete construction of the battery within the set time, then it would be free. Lucky for Musk, the battery was completed a week ahead of the December 1 deadline. Had he not met his personal deadline, the project would have reportedly cost him “$50 million or more”.

Production of this project is in conjunction with French energy company Neoen’s Hornsdale wind farm, located 143 miles north of Adelaide in South Australia. State Premier Jay Weatherill announced today that regulatory testing at the site would begin in a few days. The project itself is part of a $550 million plan by the state to guarantee a continuous supply of energy to the region.

This follows a statewide blackout that occurred last year during severe wind storms. With a bigger push on implementing renewable energy resources into the region, Musk signed off on the deal in September after being given the go-ahead in July. Use of the Tesla power packs will only occur in cases of “load-shedding” which can potentially lead to blackouts if not dealt with.

In a statement, Weatherill said: “While others are just talking, we are delivering our energy plan, making South Australia more self-sufficient and providing backup power and more affordable energy for South Australians this summer.”

For more on Elon Musk, check Tesla’s latest plans for a flying Roadster.

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