We consider the problem of parameterizing Newman-type models of Li-ion batteries focusing on quantifying the inherent uncertainty of this process and its dependence on the discharge rate. In order to rule out genuine experimental error and instead isolate the intrinsic uncertainty of model fitting, we concentrate on an idealized setting where synthetic measurements in the form of voltage curves are manufactured using the full, and most accurate, Newman model with parameter values considered true, whereas parameterization is performed using simplifi