The electrification of hybrid electric vehicle reduces the reliance of transportation on fossil fuels and reduces Green House Gas emissions. The economic and environmental benefits of the hybrid electric vehicles are greatly reshaping the modern transportation sector. The transportation electrification (TE) brings various challenges to the Smart Grid (SG), such as power quality, reliability, and control. Thus, there is a need to explore and reveal the key enabling technologies for TE. Moreover, the intermittent nature of Renewable Energy Resources (RER) based generation demands for efficient, reliable, flexible, dynamic, and distributed energy storage technologies. The Electrical Vehicles (EVs) storage battery is the promising solution in accommodating RER based generation within SG. The most efficient feature of transportation sector is Vehicle to Grid (V2G) concept that will help in storing the surplus energy and feeding back this energy to the main grid during period of high demands. The storage technology is an integral part of the SG that helps in attaining the proper utilization of RER. In this paper, our goal is to explore the TE sector and its impact on economy, reliability and eco-friendly system. We reviewed the V2G technology and their implementation challenges. We further reviewed various energy storage technologies deployed in EVs within SG, considering attention to their influence on the environment. Moreover, this paper presented a detailed overview of the on board and off board charging infrastructure and communication necessities for EV. The paper also investigated the current issues and challenges of energy storage technologies in EVs. The technical and economic benefits of storage technologies are also considered. Our analysis reviews the role of EVs in decarbonizing the atmosphere. Lastly, the survey explains the current regulation, Standard, and interfacing issues within SG.