Toyota Motor on Monday said it was willing to discuss sharing its hybrid vehicle technology with rivals, including General Motors but the two automakers denied they were already in talks, the Associated Press (AP) reported.

"If another company - not just GM but other automakers too - were to express an interest in the technology, we would not turn that down. We would be willing to open discussions," Toyota chairman Hiroshi Okuda was quoted by Toyota spokesman Tomomi Imai as saying, according to AP.

The news agency said Okuda's comments follow GM's denial Sunday of an online news report, which said the two automakers were in talks about a possible technology-sharing pact that could result in a quicker, wider offering of hybrid vehicles.

Imai reportedly also denied that Toyota and GM were already in talks.