The article describes the results of research aimed at identifying the parameters of the equivalent circuit of a lithium-ion battery cell, based on the results of HPPC (hybrid pulse power characterization) tests. The OCV (open circuit voltage) characteristic was determined, which was approximated using functions of various types, while making their comparison. The internal impedance of the cell was also identified in the form of a Thevenin RC circuit with one or two time constants. For this purpose, the HPPC pulse transients were approximated with a multi-exponential function. All of the mentioned approximations were carried out using an original method developed for this purpose, based on the PSO (particle swarm optimization) algorithm. As a result of the optimization experiments, the optimal configuration of the PSO algorithm was found. Three different cognition methods have been analyzed here: GB (global best), LB (local best), and FIPS (fully informed particle swarm). Three different swarm topologies were used: ring lattice, von Neumann, and FDR (fitness distance ratio). The choice of the cognition factor value was also analyzed, in order to provide a proper PSO convergence. The identified parameters of the cell model were used to build simulation models. Finally, the simulation results were compared with the results of the laboratory CDC (charge depleting cycle) test.