Global Advancements and Current Challenges of Electric Vehicle Batteries and Their Prospects: A Comprehensive Review

Battery electric vehicles (BEVs) have started to play a significant role in the transport sector and automotive industries. The broader market penetration of BEVs has still not been achieved due to significant barriers associated with initial costs and short driving ranges. The purchase price and a limited driving range are barriers that are inevitably associated with battery technology. Therefore, the growing demand for BEVs has expedited new innovative approaches to improve battery capacity and performance and to reduce battery costs. Considerable advancements have been employed to meet the challenges. However, there are still many challenges to make BEVs affordable and convenient for users. In this review, the main aims are to identify and address challenges by considering the prospects of BEVs in the future market and to explore the technological and financial difficulties of low energy density of battery materials, fast charging rate, battery lifetime, and cost-effectiveness, associated with effectively implementing and adopting BEVs. Moreover, potential suggestions are proposed for researchers, manufacturers, users, and government policy planners. Finally, a concrete conclusion is drawn by disseminating a vision about the future adoption of BEVs. This review of technologies, challenges, prospects, and potential solutions associated with BEVs could provide a base for effective strategic policy and could help policymakers to frame strategies for adapting and achieving targets. This review could help to achieve sustainable BEV transport and to adopt next-generation green vehicles.