GAC Says in Talks With Cash-Strapped NIO After Stock Surge

Guangzhou Automobile Group Co. confirmed it is in talks with NIO Inc. about an investment in the cash-strapped Chinese electric-vehicle maker.

GAC, its units and external parties could invest as much as $150 million in NIO, the automaker said in a statement to the Shanghai stock exchange Thursday. Plans are preliminary and no agreement has been reached, it said, echoing a NIO statement that said the two have explored financial and strategic opportunities.