Due to increasing concerns about global warming, greenhouse gas emissions, and the depletion of fossil fuels, the electric vehicles (EVs) receive massive popularity due to their performances and efficiencies in recent decades. EVs have already been widely accepted in the automotive industries considering the most promising replacements in reducing CO2 emissions and global environmental issues. Lithium-ion batteries have attained huge attention in EVs application due to their lucrative features such as lightweight, fast charging, high energy density, low self-discharge and long lifespan. This paper comprehensively reviews the lithium-ion battery state of charge (SOC) estimation and its management system towards the sustainable future EV applications. The significance of battery management system (BMS) employing lithium-ion batteries is presented, which can guarantee a reliable and safe operation and assess the battery SOC. The review identifies that the SOC is a crucial parameter as it signifies the remaining available energy in a battery that provides an idea about charging/discharging strategies and protect the battery from overcharging/over discharging. It is also observed that the SOC of the existing lithium-ion batteries have a good contribution to run the EVs safely and efficiently with their charging/discharging capabilities. However, they still have some challenges due to their complex electro-chemical reactions, performance degradation and lack of accuracy towards the enhancement of battery performance and life. The classification of the estimation methodologies to estimate SOC focusing with the estimation model/algorithm, benefits, drawbacks and estimation error are extensively reviewed. The review highlights many factors and challenges with possible recommendations for the development of BMS and estimation of SOC in next-generation EV applications. All the highlighted insights of this review will widen the increasing efforts towards the development of the advanced SOC estimation method and energy management system of lithium-ion battery for the future high-tech EV applications.