SEOUL -- South Korean sport utility vehicle maker Ssangyong Motor Co. plans to invest 1.4 trillion won ($1.18 billion) to boost its production capacity at its main assembly line, a company spokesman said on Monday.
But the investment plan is subject to parliamentary approval because of the need to revise environmental regulations, spokesman Ahn Hee-mok said.
"The Pyongtaek plant has an annual output capacity of 180,000 units and once the investment is completed it could produce up to 300,000 units," Ahn said by telephone.
The company will draw up detailed plans for the investment by the end of February, he added.
Ssangyong -- due to be taken over by China National Blue Star Group -- builds Rexton, Korando and Musso SUVs as well as deluxe Chairman passenger cars and competes with top auto maker Hyundai Motor Co.
Blue Star, a state-owned chemicals conglomerate under the direct control of the Chinese central government, has been granted an exclusive right to buy a 55.4 percent stake in Ssangyong.