New Delhi, April 29 -- Mahindra and Mahindra Ltd is looking to borrow from its electric vehicle playbook to strengthen its foray into the electric bus market by acquiring commercial vehicle player SML Isuzu Ltd.

The Chandigarh-based truck and bus manufacturer introduced the Hiroi.ev platform for developing electric buses in January at the Bharat Mobility Expo. The new e-bus portfolio was slated to be launched between April and June.

"SML is in advanced stages of developing its electric buses. We believe that the expertise we have through presence in multiple EV segments can strengthen the proposition and improve costs," Rajesh Jejurikar, executive director and chief executive officer (CEO), auto and farm sector, Mahindra and Mahindra Lt...