The Japanese auto manufacturer Nissan issued a statement on Monday denying recent reports about it being in talks with Apple Inc for the tech giant's autonomous car project.

Previously, the Financial Times reported that Nissan was approach by Apple for a potential partnerships in the recent months. However, the Japanese automaker explained that "we are not in talks with Apple.”

Moreover, a spokesperson by Nissan also commented that “Nissan is always open to exploring collaborations and partnerships to accelerate industry transformation.”

After this statement was released, it was also observed that Nissan shares were sharply lower in early Monday afternoon trade, down 3.7% compared to a 1.4% rise for the Nikkei 225 benchmark.

According to reports by Reuters in December, Apple was moving forward with autonomous car technology and aimed to produce a passenger vehicle that could include its own breakthrough battery technology as early as 2024.

While Nissan spokesperson refused to comment further, it is unclear whether the talks never took place or whether the contact was brief and the discussions did not advance to senior management levels, according to The Verge.