Abstract: During the ultimate failure vibration test, the 201 stainless steel strip used for fixing energy storage battery modules exhibits a risk of fracture. To further understand the fracture characteristics and related data of the stainless steel strip under ultimate failure vibration conditions, failure analysis was carried out using macroscopic and microscopic fracture morphology observation, metallographic examination, hardness testing, and chemical composition analysis. The results indicate that the fracture mode of the steel strip is brittle overload fracture. The strength level of the raw material has a certain influence on the strength–ductility balance of the material, weakening its ability to resist deformation and fracture. In addition, the surface quality of the steel strip is an important factor affecting fracture behavior. If defects such as shearing scratches or folding marks are present on the crack initiation side of the steel strip, stress concentration is likely to occur, making these regions relatively weak under loading and ultimately leading to fracture.