Over the past two decades, there has been growing interest in the use of nanoparticles for tribological applications. Research has highlighted their exceptional lubricating properties, particularly in terms of friction reduction and anti-wear performance, making them promising candidates as additives in automotive lubricants. This potential has attracted significant attention from additive manufacturers, oil companies, and the automotive industry, all of whom face the dual challenge of developing lubricants that support evolving engine technologies while complying with increasingly stringent environmental regulations. This presentation will explore the performance of nanoparticles as lubricant additives, examining how key parameters influence the effectiveness of nanoparticle-based lubricants. We will also discuss the lubrication mechanisms at play when nanoparticles are introduced into lubricants. Special emphasis will be placed on the critical aspects of formulating nanoparticle-based lubricants, with particular focus on the indispensable role of dispersants. Lastly, we will explore how nanoparticles can help address the emerging challenges of conventional lubricants, particularly in light of the growing adoption of electric vehicles in the automotive market.