A DC/DC converter includes a high-voltage side, a low-voltage side, a high-voltage side capacitor and a power conversion circuit. The high-voltage side includes a high-voltage positive terminal and a high-voltage negative terminal. The low-voltage side includes a low-voltage positive terminal and a low-voltage negative terminal. The low-voltage negative terminal is electrically connected with the high-voltage negative terminal A first terminal of the high-voltage side capacitor is electrically connected with the high-voltage positive terminal. A second terminal of the high-voltage side capacitor is electrically connected with the low-voltage positive terminal. The power conversion circuit is electrically connected between the high-voltage side and the low-voltage side. The power conversion circuit includes at least one switch and at least one magnetic assembly.