Chinese carmaker Zhejiang Youngman Lotus Automobile said it was getting positive signs from China's central government about its plans to invest in cash-strapped Saab, a newspaper reported on 10th September.

Youngman and Chinese car distributor Pangda Automobile Trade are seeking approval from China's authorities to invest 2.1 billion yuan (US$ 330 million) in Saab. Saab is owned by Dutch-based Swedish Automobile, formerly called Spyker Cars NV.

Youngman Director Rachel Pang told the newspaper Svenska Dagbladet that the company received a green light on its planned investment from local authorities and that a decision on the provincial level would be made on 14th September.

A final approval is then needed from the National Development and Reform Commission (NDRC) in Beijing. "We have ongoing contact with NDRC in Beijing. We are getting positive signals. I have a good feeling about this," Pang was quoted as saying.

But time is ticking and a Saab union said on 9th September that it would push for the carmaker to be declared bankrupt so that a state scheme that guarantees salaries are paid would take effect.

Saab has not paid August wages and bills from suppliers have been piling up. The carmaker was pushed closer to collapse last week after a Swedish court rejected its application for protection from creditors.

The company said it would make a fresh application for court protection from creditors on 12th September.