Firstly, our review highlights the workings of a LiB by giving a general overview of the various parts involved in the construction of a LiB. The theoretical considerations for cathode, anode and electrolyte combination were discussed with the help of the orbital picture. Commercial-grade Li-ion battery electrodes and the challenges involved with each of them were shed light upon. It was noted that the advantages and disadvantages of electrode materials are often trade-offs. Addressing these tradeoffs will be crucial for further advancements and wider implementation of the commercial LiB electrodes.