A power supply system includes a first drive motor, a second drive motor, a first power line to which a first inverter and a first battery are connected, a second power line to which a second inverter and a second battery are connected, a voltage converter that converts a voltage between the first power line and the second power line, and an ECU that operates the first and second inverters and the voltage converter and controls charging and discharging of the first and second batteries. In a case where total required power is larger than first outputtable power of the first battery, the ECU discharges a shortage of power from the second battery to the second power line, wherein the shortage of power is obtained by excluding an amount that is output by the first battery from the total required power.