In a reactionary statement to the accusations of being behind spying in Renault, China has rejected all the media reports and said that it has nothing to do with it. Many of the media reports had said that Renault's electric car secrets were stolen and sold to China.

Beijing came out with its statement soon after a French newspaper, Le Figaro submitted reports that collected evidences have pointed towards Chinese involvement.

The report said that the investigations have found about payments being made by a Chinese power company to two of the suspended executives in Liechtenstein and Switzerland.

No comments were made by automaker Renault. Both Renault and Nissan have invested about e4 billion (R35.2bn) in the electric vehicles and batteries. Nissan has developed the batteries along with NEC in JV and French alliance partners.

Renault had said that it will initiate legal proceedings. But since the nature is delicate it is expected the Central Directorate of Interior Intelligence is going to be involved in this.

One must remember that Renault is a big auto company and does not have any business venture in China. Now, these latest developments are expected to complicate upcoming research projects related to the whole car segment.