This paper suggests both a methodology to characterize ultracapacitors and to model their electrical behaviour. Current levels, frequency intervals, and voltage ranges are adapted to ultracapacitors testing. Experimental data results in the determination of the ultracapacitors performances in terms of energy and power densities, the quantification of the capacitance dependence on voltage, and the modelling of the dynamic behaviour of the device. Then, an electric model is proposed taking into account the ultracapacitors characteristics and their future use as peak power source for hybrid and electric vehicles. After, the parameters identification procedure is explained. Finally, the model validation, both in frequency and time domains, proves the validity of this methodology and the performances of the proposed model.