More reliable than batteries, probably, but less efficient. The Tesla reportedly has a range of 350 km (220 mi). In comparison, the compressed air vehicles I've read about have much lower ranges, and were smaller and slower. I suspect that if there is a niche for these vehicles, it would be in isolated communities and/or underdeveloped countries. Since it's not dependent on an electrical system, a compressed air powered vehicle would be a lot easier to jerry rig than a typical modern car, be it conventional, electric, or hybrid.