The energy storage module of the battery pack is located in the housing, the heat insulation panel is located between the energy storage module and the housing, the heat insulation panel includes a heat insulation layer and an outer packaging layer. The outer packaging layer wraps the outside of the heat insulation layer and compresses a thickness of the elastic heat, insulation layer, and a ventilation channel is formed between the heat insulation panel and the energy storage module. The outer packaging layer is configured to release compression of the elastic heat insulation layer when the energy storage module reaches a thermal runaway temperature, and the heat insulation panel is filled between the housing and the energy storage module, thereby slowing down a speed at which heat passes through a side panel and spreads to the outside of the battery pack along the ventilation channel.