There's quite a few batteries that compete on cost (including good old lead acid) but none that are lighter or more energy dense. These are major considerations for transport and mobile applications but less so for other storage applications (e.g. grid storage).
It remains to be seen whether there is a market for lithium with grid storage - it could be that other characteristics of lithium batteries (e.g. high power density - the rate it can store charge) also make them indispensible, and perhaps mass manufacture will also make them cost competitive with other technologies.
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