The future of transportation is electric. Tesla proved with the Model S that customers would want to buy luxury vehicles powered by lithium-ion batteries. Other EV startups like Faraday Future, Byton, Lucid Motors, and SF Motors are chasing after Elon Musk. And major automakers like Jaguar, Audi, and Mercedes-Benz have each released their own Tesla challengers. There are obstacles, such as the need for a more robust charging network. But battery-powered cars are here to stay.