An electric vehicle 10 includes a power supply apparatus 15. The power supply apparatus 15 includes a fuel cell system 22, capacitor 24 and secondary battery 26 that are connected in parallel to wiring 50. When a drive motor is performing regeneration, the capacitor 24 is collecting the regenerated electric power. The fuel cell system 22 generates electric power in accordance with the load demand. The switches 20 between the fuel cell and the wiring are closed when the load becomes small and the regenerated voltage attains a predetermined level. As a result, the generation of electric power by the fuel cell system is suspended under low-load conditions where the energy efficiency of the fuel cell system 22 is low.