General Motors Co. is in the final stage of talks to sell equity to long-time Chinese partner SAIC Motor Corp. in conjunction with its landmark initial public offering, two people familiar with the matter said.

The two government-funded automakers are determining how much of a stake SAIC would buy in the top U.S. automaker after discussions involving technology sharing and SAIC’s ambitions to move beyond China, the sources said.

Any agreement between GM and SAIC would need Chinese government approval and could fall apart, the sources cautioned.

One person familiar with the matter said previously that SAIC had reached out to GM to explore  taking a “single-digit” stake in the U.S. automaker. The size of SAIC’s prospective investment was not known.

The final round of talks have been led by SAIC Vice Chairman Chen Hong and could end by the  weekend, that source said.

The sources were not authorized to speak with the media and declined to be named because the talks are private. Representatives for GM and SAIC declined to comment.