A battery ECU detects a state of charge and a temperature of a power storage unit, and transmits the state of charge and the temperature to an HV-ECU. The HV-ECU calculates the charge/discharge allowable power of the power storage unit based on the state of charge and the temperature of the power storage unit, and sets control-specific charge/discharge allowable power by correcting the charge/discharge allowable power so as to limit the charge/discharge allowable power to be changed at a predetermined first change speed. The HV-ECU then determines the power target value in accordance with the request from the driver within the range of the control-specific charge/discharge allowable power. The HV-ECU sets the control-specific charge/discharge allowable power such that, at start-up of the vehicle, the maximum value in the charge/discharge allowable power characteristics of the power storage unit is set as an initial value and the value is decreased from the initial value at the predetermined second change speed higher than the first change speed.