Nissan Motor Co Ltd said Monday it is not in talks with Apple Inc after reports that the iPhone maker has approached the Japanese company in recent months for cooperation on a self-driving car project.
"We are not negotiating with Apple," a Nissan spokeswoman said. “However, Nissan is always open to collaboration and partnership to accelerate industry transformation.”
A spokeswoman declined to comment further.
Nissan shares plummeted in early trading on Monday afternoon, down 3.7% from a 1.4% rise in the Nikkei 225.
Early negotiations between Apple and the Hyundai Motor Group over autonomous electric vehicles have also recently fallen through due to the Korean company's reluctance to become a contract manufacturer for American cars.