Benzinga | Feb 23, 2021 12:30PM EST

Mercedes Boosts Hybrid C-Class Battery To Battle SUVs: Bloomberg

* Daimler AG (OTC: DMLRY) owned luxury brand Mercedes-Benz is boosting its C-Class lineup with more powerful batteries to be at par with sport-utility vehicles, Bloomberg reports.

* Mercedes doubled the range of the model's plug-in hybrid versions to 100 kilometers (62 miles) towards broader customer appeal. The C-Class models will feature small electric motors to reduce fuel consumption. The new C-Class models will be so-called 'mild hybrids.'

* The bestseller cars are slated to hit the road in summer with the latest multimedia system from its flagship S-Class model.

* The C-Class will play a vital role in accomplishing Daimler AG's target of almost doubling the share of plug-in hybrids and fully electric cars sold in 2021. China accounts for maximum C-Class sales volumes.

* However, the growing popularity of the SUVs (Sport utility vehicles) offers stiff competition to the C-Class.

* Mercedes shipped around 160,000 battery vehicles last year, which constituted 7% of its global deliveries.

* The company is yet to announce the price for the new C-Class models. The present version starts at around $45,500 ((euro)37,500).

* Price action: DMLRY shares are down 2.93% at $19.67 on the last check Tuesday.

* Image Courtesy: Wikimedia

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