Ethylene propylene rubber (EPR) cable terminals are widely used in high-speed railway trains. In the alpine environment, partial discharge (PD) and even breakdown failures caused by spike defects frequently occur in EPR cable terminals. To study the discharge development of cable terminals with spike defects in alpine regions, EPR cable terminal test samples with spike defects were made, and a low-temperature PD test system was built to simulate the environmental conditions in alpine regions. The characteristics of the lower PD spectrum were analyzed, and the influence mechanism of low temperature on the discharge activity was analyzed combined with the scanning electron microscope (SEM) scan. The research results show that the discharge development of the terminal spike defect can be divided into three stages: S1~S3. In S1 stage, the degree of PD at –30°C is weaker than that at 20°C dues to the low diffusion ability and weak polarization effect of carriers. In S2 and S3 stages, with the continuous discharge, low temperature makes the deterioration tolerance of ethylene propylene rubber material decrease more seriously, which promotes the development of discharge. The discharge phase interval is larger and the discharge activity is more intense at –30°C than at 20°C, and the breakdown time point is 11.6% earlier. By studying the characteristics of the spectrum, it is found that the deviation of PD φ- <italic xmlns:mml="http://www.w3.org/1998/Math/MathML" xmlns:xlink="http://www.w3.org/1999/xlink">q<sub>ave</sub></i> spectrum at –30°C from positive to negative is an important signal before the critical breakdown of cable insulation, which can provide a reference for judging the severity of terminal spike defects at low temperature.