This paper describes the comparison and parameterization process of dynamic battery models for cell and system simulation. Three commonly used equivalent circuit battery models are parameterized using a numeric optimization method and basic electrical tests with a lithium-ion polymer battery cell. The maximum model performance is investigated, and the parameterized models are compared regarding the parameterization effort and the model accuracy. For the model with the best tradeoff between the parametrization effort and the model accuracy, a reasonable simplification of the parameterization process is presented. This model is parameterized with the simplified parameterization process and, finally, validated by using a current profile obtained from an electric vehicle simulation performing a real-life driving cycle.