I think it could compete well, depending on the efficiency of the process. Advantages are that the energy density of liquid hydrocarbons is orders of magnitude

I think it could compete well, depending on the efficiency of the process. Advantages are that the energy density of liquid hydrocarbons is orders of magnitude greater than Li ion batteries, and likely always will be. So you can store a lot more energy in a smaller space. It's also easier to transport and distribute, since we have extensive infrastructure for transporting liquid fuels.