With the rapid global growth in demand for renewable energy, the traditional energy structure is accelerating its transition to low-carbon, clean energy. Lithium-ion batteries, due to their high energy density, long cycle life, and high efficiency, have become a core technology driving this transformation. In lithium-ion battery energy storage systems, precise state estimation, such as state of charge, state of health, and state of power, is crucial for ensuring system safety, extending battery lifespan, and improving energy efficiency. Although physics-based state estimation techniques have matured, challenges remain regarding accuracy and robustness in complex environments. With the advancement of hardware computational capabilities, data-driven algorithms are increasingly applied in battery management, and multi-model fusion approaches have emerged as a research hotspot. This paper reviews the fusion application between physics-based and data-driven models in lithium-ion battery management, critically analyzes the advantages, limitations, and applicability of fusion models, and evaluates their effectiveness in improving state estimation accuracy and robustness. Furthermore, the paper discusses future directions for improvement in computational efficiency, model adaptability, and performance under complex operating conditions, aiming to provide theoretical support and practical guidance for developing lithium-ion battery management technologies.