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As a forefront energy storage technology, lithium‐ion batteries (LIBs) have garnered immense attention across diverse applications, including electric vehicles, consumer electronics, and medical devices, owing to their exceptional energy density, minimal self‐discharge rate, high open circuit voltage, and extended lifespan. However, despite their remarkable advancements and widespread commercialization, LIBs continue to face critical challenges, particularly the demand for even higher energy density, which inhibits their performance in high‐power applications such as electric and hybrid electric vehicles. This review presents a comprehensive analysis of the fundamental limitations hindering LIBs from achieving superior energy density and long‐term electrochemical stability. The discussion is systematically structured around four key components: cathode materials, anode materials, separators, and current collectors, with a particular emphasis on the challenges, emerging strategies, and future perspectives. By delving into recent breakthroughs in novel material architecture, electrode design optimizations, and the selection of advanced separators and current collectors, this work provides an in‐depth examination of innovative approaches aimed at enhancing battery performance. Furthermore, this review explores pivotal factors such as interfacial stability, ion transport kinetics, and degradation mechanisms that significantly impact the longevity, safety, and efficiency of LIBs. By critically evaluating these aspects, it offers valuable insights into the trajectory of LIB development, helping to shape the next generation of high‐performance energy storage solutions.
Khan et al. (Mon,) studied this question.