This literature review explains the construction and charge storage mechanisms in Lithium-ion batteries. Further, it elaborates on the electrode reactions in Lithium-ion batteries, and commonly used electrode materials and their structures. Different types of Lithium-based batteries' electrochemical performance were compared, in addition to other relevant differentiators. The energy storage mechanism in Supercapacitors is briefly touched upon -- and the electrochemical performance of supercapacitors is compared with that of lithium-ion batteries. Battery supercapacitor hybrids are introduced, with a brief section on their development over the past two decades following explanations of the charge storage mechanism and construction of battery supercapacitor hybrids. Battery supercapacitor hybrids are then compared with existing electrochemical energy storage mechanisms and finally, two types of battery supercapacitor hybrids were discussed.