As the world moves towards electrification of a large percentage of the transportation networks in wealthy countries such as the United Kingdom, the United States of America and several European nations, magnesium alloys and their fundamental research are important in order to create robust platforms for delivering lighter weight structures which in turn helps to promote an eco-environmental society. This manuscript contains a comprehensive discussion of the recent research dedicated to improving the strength and formability of the magnesium alloy while identifying potential applications for different critical sectors. Further, the present book provides a substantial review of the most recent developments of magnesium alloys and their use in self-healing technology and battery storage, among several other areas.