Lithium-ion batteries are rechargeable batteries in which carbon serves as an anode and lithium-ion acts as a cathode. The advantage of using these batteries is that they increase thermal stability, have higher current density, and have a longer shelf life than other battery technologies available in the market. Lithium-ion batteries are used in high-power applications such as HEVs, EVs, and consumer electronics devices. One of the key reasons for this significant growth is the increased adoption of EVs and HEVs worldwide.