Yeah, in theory you can run existing vehicles off hydrogen, but hydrogen internal combustion engines have, thus far, sucked. BMW tried this with a hydrogen-fuelled 7 series V12 back in the mid 2000s. They could only get about 150 horsepower out of that massive V12. They got well over 400 out of the original gasoline version of the engine.
As for lithium, I’m old enough to remember when many were convinced Peak Oil was going to be a Big Problem.