Model-based state-of-charge (SOC) and state-of-health (SOH) estimation for lithium-ion batteries has been widely applied in electrified vehicles, while the SOC and SOH estimators are highly coupled and nonlinear in conventional techniques. This leads to a bulky design of observer network and complicates the stability analyses. In this article, a new reduced-decoupling SOC and SOH coestimation algorithm based on convex optimization is proposed. This scheme estimates the battery SOC from the battery model and does not require the classic Coulomb-counting method. Therefore, it can decouple the capacity estimation from the SOC estimator and reduce the strong interaction existing in conventional coestimation methods. Besides, all state variables can be solved together by one estimator, which is straightforward and avoids the complicated observer network. Owing to the decoupling design, the stability of the proposed method becomes more intuitive and can be always guaranteed according to the convexity analysis without using other stabilizing approaches. In consequence, a weak-interaction and robust coestimation algorithm of SOC and SOH can be realized by the proposed technique. The experiments on a 5.4-Ah lithium polymer battery are implemented to validate the feasibility of the algorithm.