The document discusses the 4RC model of Li-ion batteries, which uses four resistor-capacitor elements to accurately represent a battery's internal behavior and dynamic performance. It provides advantages over simpler models by capturing both steady-state and transient responses. The 4RC model sees applications in battery management systems, electric vehicle design, and renewable energy storage due to its improved accuracy in predicting battery state and performance. However, its complexity requires accurate estimation of resistor and capacitor parameter values.