Recently, electric vehicle (EV) technology has received massive attention worldwide due to its improved performance efficiency and significant contributions to addressing carbon emission problems. In line with that, EVs could play a vital role in achieving sustainable development goals (SDGs). However, EVs face some challenges such as battery health degradation, battery management complexities, power electronics integration, and appropriate charging strategies. Therefore, further investigation is essential to select appropriate battery storage and management system, technologies, algorithms, controllers, and optimization schemes. Although numerous studies have been carried out on EV technology, the state-of-the-art technology, progress, limitations, and their impacts on achieving SDGs have not yet been examined. Hence, this review paper comprehensively and critically describes the various technological advancements of EVs, focusing on key aspects such as storage technology, battery management system, power electronics technology, charging strategies, methods, algorithms, and optimizations. Moreover, numerous open issues, challenges, and concerns are discussed to identify the existing research gaps. Furthermore, this paper develops the relationship between EVs benefits and SDGs concerning social, economic, and environmental impacts. The analysis reveals that EVs have a substantial influence on various goals of sustainable development, such as affordable and clean energy, sustainable cities and communities, industry, economic growth, and climate actions. Lastly, this review delivers fruitful and effective suggestions for future enhancement of EV technology that would be beneficial to the EV engineers and industrialists to develop efficient battery storage, charging approaches, converters, controllers, and optimizations toward targeting SDGs.