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This paper presents an energy management strategy of a Li-Fe battery and supercapacitor hybrid power system to provide both high power density and energy density for mobile robots with fluctuating workloads. A two-phase power-optimization approach is proposed to exploit the high power density of supercapacitors and the high energy density of Li-Fe batteries. With our strategy, large peak power can be provided for a short time period whenever needed, while low power can be provided for very long time. A set of experiments have been conducted. The experimental results show that our strategy can effectively improve the performance of mobile robots and extend the lifetime of batteries.