Yup, and worth pointing out such chemistries are already common, although slightly heavier. Lithium iron phosphate, for instance, which also tends to be safer and have longer cycle life, has improved to the point that Tesla is planning on using it for low cost versions of Model 3 (and/or whatever their $25k model will be called), as is already common for electric cars there. Iron and phosphorous are very common and cheap.

So there are lots of alternative batter chemistries that all have lithium as the common element.