A power supply system includes a main power storage device and a plurality of sub power storage devices. A converter is connected to selected one of the sub power storage devices to convert voltage between the selected sub power storage device and an electric power feeding line bidirectionally. When a request for switching the selected sub power storage device in use is generated, upper limits on electric power input/output to/from the selected sub power storage device are continuously varied. Thus, discontinuous variation of electric power input/output to/from the power supply system during the process for switching the selected sub power storage device can be avoided. Consequently, sudden change in a behavior of an electrically powered vehicle can be avoided.