The shift from internal combustion (IC) engines to electric vehicles (EVs) marks a significant transformation in the automotive industry, prompting a comprehensive reassessment of various engineering considerations. Among these, tribological factors play a critical role in ensuring the performance, reliability, and longevity of vehicle components. This review examines the tribological challenges and opportunities posed by the transition to EVs, focusing on key components such as bearings, gears, and braking systems, which face unique operating conditions in electric powertrains compared to their IC counterparts. The paper addresses how electric vehicles encounter distinct tribological scenarios, such as lower operating temperatures but higher torque loads, which demand new materials and lubrication strategies. It also explores how the near absence of internal combustion in EVs affects component wear and the mechanisms of friction reduction. Additionally, the tribological challenges in IC engines are revisited to provide a comparative understanding of how they differ from those in EVs, particularly regarding energy efficiency and frictional losses. This review emphasizes the importance of minimizing wear and friction to maximize energy efficiency, which is crucial for extending vehicle range and improving performance in EVs. By synthesizing the latest research findings and industry advancements, the review offers valuable insights for researchers and engineers involved in the design and optimization of tribological systems for the next generation of electric vehicles.