The electrification of transportation is experiencing rapid development. Electric bicycles (e-bikes) are commonly employed as convenient modes of transportation. Thanks to the advantages of long life and high energy density, lithium-ion batteries (LIBs) are widely used in e-bikes. In certain business models, e-bikes can utilize rental LIBs, which are centrally managed at charging stations. The low-temperature charging and discharging performance of the LIB system poses a significant challenge during usage. Among various heating methods, alternating current (AC) heating has garnered attention due to its high efficiency and has been applied to quickly warm up the LIB system. To address this issue, an AC heating model was established to determine the appropriate frequency and magnitude of the current, and a prototype AC heating system for the LIB modules used in e-bikes was designed. A full-bridge topology system model was established, and an experimental platform was constructed to test the effectiveness of the proposed AC heating topology and thermoelectric model under different AC heating frequencies and currents. The results show that the proposed AC heating system can heat an 18650 battery module within 20 min. Under an ambient temperature of −20 °C, using a 10 A, a 100 Hz excitation current achieves a heating rate of 1.3 °C per minute, with minimum power losses. The prototype also has a fast response time of only 70 ms. Finally, the strategies of LIB heating and insulation are proposed for the scenario of a battery swapping station. This research holds great significance in resolving the problem of low-temperature heating for e-bikes in cold regions.