This paper explores the multifaceted advancements in lithium-ion battery (LIB) technology, focusing on material innovations and engineering strategies aimed at optimizing performance, safety, and efficiency. We delve into the development of advanced cathode materials like lithium nickel manganese cobalt oxide (NMC) and lithium iron phosphate (LFP), highlighting their contributions to enhancing energy density and safety. The investigation extends to silicon-based anode materials, underscoring their potential to significantly increase energy storage capacity despite challenges related to volume expansion. Furthermore, we discuss electrolyte optimization techniques that promise to improve battery safety through the use of non-flammable ionic liquids and solid-state electrolytes. Engineering strategies, including microstructure design of electrodes and thermal management systems, are analyzed for their role in improving electrochemical performance and extending battery lifespan. Smart battery management systems (BMS) are also examined for their ability to optimize battery usage through real-time monitoring and predictive analytics. Through a comprehensive review and quantitative analysis, this study presents a cohesive overview of current trends and future directions in LIB technology.
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