Lithium-ion batteries are becoming an integral part of renewable-based energy systems that helps to provide an efficient and greener solution for energy storage. LIBs have found their use in a variety of applications ranging from portable electronic devices to energy grid systems. Owing to the reduction in carbon dioxide emission and improved energy to fuel weight ratio, LIBs have also been widely used in electronic vehicles. LIBs have been especially desirable in this case due to their high charge to mass potential in comparison to other battery types. In the recent decade, the extensive use of LIBs has posed not only a great threat to the world’s lithium resource depletion but also the prevailing problem concerning the consumed and non-recycled LIBs. Hence, immediate attention to alleviate any danger to the ecosystems due to the release of harmful chemicals is required.