Chinese car manufacturer Youngman planned to make a bid for the bankruptcy estate of Swedish Saab Automobile next week, Sweden's Daily Industry reported on Thursday.

Both Chairman of Youngman Pang Qingnian and CEO of Youngman's car division Pang Caiping will fly to Gothenburg to present the bid of about 5 billion Swedish krona (0.74 billion U.S. dollars) to the bankruptcy administrators next week, said the report.

The report added that Youngman also prepared to invest in the development of new models on Saab's platform Phoenix with the same amount of money.

"Once an agreement has been signed with the bankruptcy administrator, the production of Saab 9-3 in the city of Trollhattan is hoped to start again within 15 weeks," said the source.

The components of Saab 9-3 that have been supplied by American auto giant General Motors at present will be purchased from other suppliers, the source added.

According to Daily Industry, Youngman is well aware that the amount of bid is an overcharge and more than enough to even compensate about 800 Saab contractors waiting to be paid.

Since early 2011, Saab had been trapped in difficult situation that production in Trollhattan, western Sweden, has stopped and wage payments have been late for months. Sweden's Vanersborgs District Court approved Saab's bankruptcy petition last month.

However, a Swedish delegation group, made up of government officials and representatives of Saab headed to China on Wednesday for meeting Youngman, which has been interested in purchasing Saab for some time.