Could it work? Yes. But not the best, and might be risking the esc. The esc is only rated at 120A and the motor is pulling 116A so the esc is gonna get a bit hot. I wouldn't run the car for more than 5 to 10 minutes at that. Or if you add a powerful fan to both the motor and esc you might be able to run for a bit longer. Who knows.
I would get atleast a 160A + esc to handle that motor.