Equivalent circuit modelling (ECM) is a powerful tool to study the dynamic and non-linear characteristics of Li-ion cells and is widely used for the development of the battery management system (BMS) of electric vehicles. The dynamic parameters described by the ECM are used by the BMS to estimate the battery state of charge (SOC), which is crucial for efficient charging/discharging, range calculations, and the overall safe operation of electric vehicles. Typically, the ECM approach represents the dynamic characteristics of the battery in a mathematical form with a limited number of unknown parameters. Then, the parameters are calculated from voltage and current information of the lithium-ion cell obtained from controlled experiments. In the current work, a faster and simplified first-order resistance–capacitance (RC) equivalent circuit model was developed for a commercial cylindrical cell (LGM50 21700). An analytical solution was developed for the equivalent circuit model incorporating SOC and temperature-dependent RC parameters. The solution to the RC circuit model was derived using multiple expressions for different components like open circuit voltage (OCV), instantaneous resistance (R₀), and diffusional parameters (R₁ and C₁) as a function of the SOC and operating temperature. The derived parameters were validated against the virtual HPPC test results of a validated physics-based electrochemical model for the voltage behavior. Using the developed RC circuit model, a polynomial expression is derived to estimate the temperature increase of the cell including both irreversible and reversible heat generation components. The temperature predicted by the proposed RC circuit model at different battery operating temperatures is in good agreement with the values obtained from the validated physics model. The developed method can find applications in (i) onboard energy management by the BMS and (ii) quicker evaluation of cell performance early in the product development cycle.