Undoubtedly, Lithium-ion batteries have revolutionised the lives of humankind in the last decades. They have laid the foundation of a wireless civilisation, forming the powerhouse for the personal digital electronic revolution. They are currently the dominant mobile power sources for portable electronic devices, exclusively used in cell phones and laptop computers. Another expanding market for Li‐ion batteries is electric and hybrid vehicles, which require next‐generation Li‐ion batteries with high power, high capacity and high charging rate. Also, Li‐ion batteries can be employed to buffer the intermittent and fluctuating green energy supply from renewable resources (solar, wind) leading the effort for a fossil fuel-free society. The Nobel Prize of Chemistry 2019 recognised three scientists who contributed to research and discovery of Li-ion batteries and their beneficial applications for the whole of humankind. Professors Michael Stanley Whittingham, John Bannister Goodenough and Yoshino Akira, were the recipients of the prize for their valuable contribution to the discovery of lithium-ion batteries. In 1991 Sony, dominant maker of personal electronic devices (Walkman) commercialized Li‐ion batteries. It was a tremendous success and supported the revolution of personal mobile electronics. Also ProfessorRachid Yazami, Moroccan scientist and engineer, played an important role in the applications of Li-ion batteries. When Li-ion battery is compared with other commercial rechargeable batteries for energy densities clearly shows its superiority. It is expected that for the next decade the advantages of Li‐ion batteries will still be dominant in the rechargeable battery market. The basic design of Li‐ion cells today is still the same as those cells Sony commercialized two decades ago, although various kinds of electrode materials, electrolyte, and separators have been explored and applied to superior performance batteries. More research has been devoted worldwide investigating for new materials for cathode and anode electrodes, separators and electrolytes of Lithium-ion batteries. This review collected the most relevant and important research papers, books and reports on Lithium-ion batteries and the promising future of new materials to be used for electric vehicles and storage of fluctuating grid energy produced by renewable energy sources (solar, wind power).