The increase of electric vehicles (EVs), environmental concerns, energy preservation, battery selection, and characteristics have demonstrated the headway of EV development. It is known that the battery units require special considerations because of their nature of temperature sensitivity, aging effects, degradation, cost, and sustainability. Hence, EV advancement is currently concerned where batteries are the energy accumulating infers for EVs. This paper discusses recent trends and developments in battery deployment for EVs. Systematic reviews on explicit energy, state-of-charge, thermal efficiency, energy productivity, life cycle, battery size, market revenue, security, and commerciality are provided. The review includes battery-based energy storage advances and their development, characterizations, qualities of power transformation, and evaluation measures with advantages and burdens for EV applications. This study offers a guide for better battery selection based on exceptional performance proposed for traction applications (e.g., BEVs and HEVs), considering EV’s advancement subjected to sustainability issues, such as resource depletion and the release in the environment of ozone and carbon-damaging substances. This study also provides a case study on an aging assessment for the different types of batteries investigated. The case study targeted lithium-ion battery cells and how aging analysis can be influenced by factors such as ambient temperature, cell temperature, and charging and discharging currents. These parameters showed considerable impacts on life cycle numbers, as a capacity fading of 18.42%, between 25–65 °C was observed. Finally, future trends and demand of the lithium-ion batteries market could increase by 11% and 65%, between 2020–2025, for light-duty and heavy-duty EVs.