By Yifan Wang

Geely Automobile Holdings Ltd. on Monday clarified that it hasn't taken part in a reported electric-car partnership between Chinese internet giant Baidu Inc. and its parent firm Zhejiang Geely Holding Group Co.

The statement came after Geely Auto's shares surged 20% to a record closing high on Friday, as investor sentiment was boosted from the potential collaboration reported by Reuters.

The Chinese car firm said it is not partnering with Zhejiang Geely or providing financing to Zhejiang Geely for the reported deal.

But Geely Auto "does not rule out the possibility of exploring potential cooperation opportunities with Baidu Inc.," the firm added.

Write to Yifan Wang at yifan.wang@wsj.com

(END) Dow Jones Newswires

01-10-21 2006ET