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The prominent electric vehicle technology, energy storage system, and voltage balancing circuits are most important in the automation industry for the global environment and economic issues. The energy storage system has a great demand for their high specific energy and power, high‐temperature tolerance, and long lifetime in the electric vehicle market. For reducing the individual battery or super capacitor cell‐damaging change, capacitive loss over the charging or discharging time and prolong the lifetime on the string, the cell balancing is compulsory. The electric vehicles drive train architecture, overall applicable energy storage system, and the balancing circuit categories as cell‐to‐heat, cell‐to‐cell, cell‐to‐pack, pack‐to‐cell, and cell‐to‐pack‐to‐cell are reviewed. The comparative study has shown the different key factors of market available electric vehicles, different types of energy storage systems, and …