The growing electrical vehicle (EV) market has been taking the attention of customers & manufacturers in the last couple of years. EVs with lithium-ion (Li-ion) batteries stand as an alternate to the conventional power source of fossil fuel engines. While sustaining the stand, the limitations of battery as a sole power source surface, like range, temperature, state of health, dynamic power requirement & addressing different duty cycles. In this regard, a hybrid power source with a supercapacitor has emerged as a solution. The combined power source is known as a hybrid energy storage system (HESS). In this report we will see the current progress in technology for the supercapacitor-based powertrain from the viewpoint of range, charge-discharge cycle, overall weight of power source, power split strategies & ultimate cost impact. The HESS has basically three configurations—passive, semi-passive & active. The efficiency of the system improves with the introduction of power electronics. Comparative analysis of passive, semi-passive, and active HESS architectures confirms the superiority of active systems, which enable intelligent power-split strategies through advanced power electronics. Although they involve higher initial costs, lifecycle evaluations highlight reduced battery replacement frequency and lower operating expenses. This study establishes actively managed HESS as a scalable and sustainable solution for three-wheeler electrification, combining enhanced performance and long-term durability.