After dimension reduction, two boundary voltages of V2 controlled buck converter are deduced under different operation mode, based on which, its equivalent one-dimensional discrete-time model is established and complex nonlinear bifurcation behaviors are emphatically studied. Two boundary conditions under which shift between stable period-one state and subharmonic oscillation state and shift between continuous conduction mode (CCM) and discontinuous conduction mode (DCM) take place are derived by analyzing stability and operation mode. The research results show that in V2 controlled buck converter period-doubling bifurcation and border-collision bifurcation can occur with varying circuit parameters and the converter has different bifurcation routes at different circuit parameters. Simulation and experiment platforms are implemented and the corresponding results verify the validity of equivalent discrete-time model and theoretical analysis.