Online parameter identification is essential for the accuracy of the battery Equivalent Circuit Model (ECM). The traditional Recursive Least Squares (RLS) method is easily biased with the noise disturbances from sensors, which degrades the modeling accuracy in practice. Meanwhile, the Recursive Total Least Squares (RTLS) method can deal with the noise interferences, but the parameter slowly converges to the reference with initial value uncertainty. To alleviate the above issues, this paper proposes a co-estimation framework utilizing the advantages of RLS and RTLS for a higher parameter identification performance of the battery ECM. RLS converges quickly by updating the parameters along the gradient of the cost function. RTLS is applied to attenuate the noise effect once the parameters have converged. Both simulation and experimental results prove that the proposed method has good accuracy, fast convergence rate, and also robustness against noise corruption.