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The Clock Is Ticking for Tesla's $50 Million Big Battery Bet

Elon Musk promised to build the world's largest battery park to solve Australia's blackout problems.

The clock is ticking for Tesla Inc. (TSLA) - Get Tesla Inc Report after it agreed to build the world's largest lithium-ion battery park in South Australia, signing off on a deal to finish the instillation within 100 days or give it away for free.

The deal follows a call for tenders by the Australian state, which has suffered a series of devastating blackout that have left as many as 1.7 million people without power.

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This article was written by a staff member of TheStreet.