Abstract-Electromagnetic interference (EMI) of the power supply system in electric vehicles will seriously affect the safety of the vehicle and passengers' health. So a model of power supply system is presented to analyze its conducted EMI in the paper. This model shows the effects of paralleled interleaving DC/DC converter, which contains the new circular current EMI characteristics. Also, a novel power battery model is established considering both the energy dynamic processes and the high frequency features. Firstly, the power electronics devices are studied as the most important part of the DC/DC converter. Then, the equivalent model of the paralleled interleaving DC/DC converter is set up to express the interference source features. Also, the power battery, which is the main energy storage equipment in electric vehicles, is modeled as EMI propagation paths. Furthermore, loads of the power supply system, such as lead acid battery and low voltage devices, are investigated to evaluate their immunity. Finally, the system model is established. The system EMI is analyzed to get their generating causes, time domain and frequency domain characteristics based on both simulations and experiments.