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Presents here a complete dynamic model of a lithium ion battery that is suitable for virtual-prototyping of portable battery-powered systems. The model accounts for nonlinear equilibrium potentials, rate- and temperature-dependencies, thermal effects and response to transient power demand. The model is based on publicly available data such as the manufacturers' data sheets. The Sony US18650 is used as an example. The model output agrees both with manufacturer's data and with experimental results. The model can be easily modified to fit data from different batteries and can be extended for wide dynamic ranges of different temperatures and current rates.