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The transportation sector is by far the largest oil consumer making it a prime contributor to air pollution. EVs (Electric vehicles) will be beneficial to the environment and will help to alleviate the energy crisis due to their low dependence on oil and negligible emissions. Technology innovation in EVs is of significant interest to researchers, companies, and policy-makers in many countries. EVs integrate various kinds of distinct technologies where some of the important factors in considerations related to EVs are: a wide range of electrical drive configurations; advanced electronics that enable automotive innovations; meeting the challenges of automotive electronics; electrifying transportation in the future. This paper reviews the recent progress in EV technology, which consists of various motor drives applied in EV propulsion, classification of EVs such as BEV, PHEV, HEV, FCEV, and types of energy storage system with chargers, and software simulating devices. This paper also highlights the EV market with various challenges. The main findings of this research are: (1) Battery technology is the EV's bottleneck. Lithium-ion batteries for vehicles have high capacity and large serial-parallel numbers, which, coupled with problems such as safety, durability, uniformity, and cost, impose limitations on the wide application. (2) Incentives and encouragement for EV owners should be tailored to their specific needs in order to improve their socioeconomic standing. (3) Hyundai, MG Motors, Tesla, and Tata Motors appear to be the key players in India's critical subdomains of the EV market. (4) EV simulation software is necessary for vehicle design and development before the mass production of EVs. (5) PMSM has the potential to provide a high torque-to-current ratio, a high power-to-weight ratio, high efficiency, and robustness. Currently, the BLDC (Trapezoidal SPMSM) motors are the most preferred motors for electric vehicle applications due to their traction characteristics.

A Technology Review of Energy Storage Systems, Battery Charging Methods and Market Analysis of EV Based on Electric Drives