On a vehicle, a converter converting and outputting a voltage, an inverter converting DC power output from the converter to AC power, and a motor driven by AC power supplied from the inverter are mounted. A control device calculates a requested voltage VHreq as an output voltage from a converter for bringing a degree of modulation Kmd of the inverter closer to a prescribed target degree of modulation Kmd#, calculates from target torque of the motor, a minimum voltage VHmin as a minimum value for an output voltage from the converter which can realize target torque of the motor, and controls the converter such that the output voltage VH from the converter is closer to a value which is greater one of the requested voltage VHreq and the minimum voltage VHmin.