This paper presents the current research trends and future issues for industrial electronics related to transportation electrification. Specific emphasis is placed on electric and plug-in hybrid electric vehicles (EVs/PHEVs) and their critical drivetrain components. The paper deals with industry related EV energy storage system issues, EV charging issues, as well as power electronics and traction motor drives issues. The importance of battery cell voltage equalization for series-connected lithium-ion (Li-ion) batteries for extended life time is presented. Furthermore, a comprehensive overview of EV/PHEV battery charger classification, standards, and requirements is presented. Several conventional EV/PHEV front-end ac/dc charger converter topologies as well as isolated DC/DC topologies are reviewed. Finally, this paper reviews various EV propulsion system architectures and efficient bidirectional DC/DC converter topologies. Novel DC/AC inverter modulation techniques for EVs are also presented. The architectures are based on the battery voltage, capacity, and driving range.