The expansion of the DC fast‐charging (DCFC) network is expected to accelerate the transition to sustainable transportation by offering drivers additional charging options for longer journeys. However, DCFC places significant stress on the grid, leading to costly system upgrades and high monthly operational expenses. Incorporating energy storage into DCFC stations can mitigate these challenges. This article conducts a comprehensive review of DCFC station design, optimal sizing, location optimization based on charging/driver behaviour, electric vehicle charging time, cost of charging, and the impact of DC power on fast‐charging stations. The review is closely aligned with current state‐of‐the‐art technologies and encompasses academic research contributions. A critical assessment of 146 research articles published from 2000 to 2023 identifies research gaps and explores avenues for future study based on the literature review.