A comprehensive understanding of the mechanisms of battery is essential for the design of thermal management systems. In this work, a second-order equivalent circuit model considering the hysteresis effect of the battery was developed, and a combined EIS and HPPC characterization method was used for parameter identification. The results showed that the combining EIS and HPPC parameter measurement methods could extract and analyze the parameters of the battery with different time scales and improve the accuracy of the model. It was found that the polarization internal resistance (R1 and R2) of the battery shows a stronger temperature dependence than the ohmic internal resistance at low temperatures, with R1 being about 170 times higher at low temperatures (10 °C) than high temperatures (50 °C). At the same temperature, τ2 was approximately 100 times larger than τ1, which was two orders of magnitude difference between τ1 and τ2. In addition, the dynamic heat generation results showed that the heat generation rate of the battery increases with decreasing temperature. At 3C discharge rate, the heat generation rate of the battery at low temperature (−10 °C) was about 1.5 times higher than at room temperature (25 °C). •The time-scale information in the battery is extracted and analyzed.•Relationships between internal parameters and kinetic processes were established.•The dynamic heat generation process of the battery was studied.